Wall Street Zen Upgrades Hamilton Insurance Group (NYSE:HG) to Buy

Hamilton Insurance Group (NYSE:HG) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Barclays reissued an “overweight” rating and set a $35.00 price target on shares of Hamilton Insurance Group in a research report on Friday, February 20th. Citigroup lifted their target price on shares of Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Zacks Research lowered shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Morgan Stanley set a $28.00 price target on shares of Hamilton Insurance Group in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Hamilton Insurance Group Price Performance

HG stock opened at $28.65 on Friday. Hamilton Insurance Group has a 1 year low of $16.80 and a 1 year high of $32.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $2.84 billion, a PE ratio of 5.14 and a beta of 0.56. The business has a 50 day simple moving average of $29.24 and a 200-day simple moving average of $27.04.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Thursday, February 19th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.96. Hamilton Insurance Group had a return on equity of 19.43% and a net margin of 19.85%.The company had revenue of $728.33 million for the quarter, compared to analyst estimates of $621.00 million. Equities research analysts anticipate that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hamilton Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in shares of Hamilton Insurance Group during the fourth quarter worth about $25,000. Chesapeake Asset Management LLC raised its holdings in Hamilton Insurance Group by 487.8% in the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. Versant Capital Management Inc lifted its stake in Hamilton Insurance Group by 1,404.4% in the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock worth $42,000 after acquiring an additional 1,587 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after acquiring an additional 937 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Hamilton Insurance Group during the 3rd quarter worth approximately $71,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

About Hamilton Insurance Group

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.