Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Hamilton Insurance Group (NYSE:HG) Stock

Hamilton Insurance Group (NYSE:HG) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $34.00 to $39.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 13.75% from the stock’s previous close.

HG has been the subject of several other research reports. Weiss Ratings raised shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, June 12th. Morgan Stanley increased their price target on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a report on Thursday, May 21st. Finally, Barclays upped their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.88.

Hamilton Insurance Group Stock Up 0.9%

Shares of HG stock traded up $0.30 during mid-day trading on Wednesday, reaching $34.28. 29,460 shares of the company were exchanged, compared to its average volume of 518,033. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50 day simple moving average is $31.65 and its 200 day simple moving average is $30.08. The company has a market capitalization of $3.40 billion, a P/E ratio of 5.62 and a beta of 0.35. Hamilton Insurance Group has a fifty-two week low of $20.44 and a fifty-two week high of $35.20.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The firm had revenue of $758.91 million for the quarter, compared to analysts’ expectations of $933.90 million. Research analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insider Activity

In related news, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the sale, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. This trade represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Brown sold 37,300 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the transaction, the director directly owned 450,000 shares of the company’s stock, valued at $14,472,000. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of hedge funds have recently made changes to their positions in HG. Kestra Advisory Services LLC acquired a new position in shares of Hamilton Insurance Group during the fourth quarter worth approximately $25,000. Chesapeake Asset Management LLC raised its stake in Hamilton Insurance Group by 487.8% during the 4th 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. Harbor Capital Advisors Inc. boosted its position in Hamilton Insurance Group by 112.1% during the 4th 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 period. KBC Group NV acquired a new position in Hamilton Insurance Group during the 1st quarter worth $65,000. Finally, Royal Bank of Canada grew its stake in shares of Hamilton Insurance Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock worth $84,000 after purchasing an additional 410 shares in the last quarter. 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.