Hamilton Insurance Group (NYSE:HG) Price Target Raised to $37.00

Hamilton Insurance Group (NYSE:HG) had its target price upped by Morgan Stanley from $34.00 to $37.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages also recently commented on HG. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Citizens Jmp boosted their target price on Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Wall Street Zen downgraded Hamilton Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a report on Thursday, May 21st. Finally, Weiss Ratings upgraded Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.12.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock opened at $34.90 on Wednesday. Hamilton Insurance Group has a 1 year low of $22.66 and a 1 year high of $37.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.44 billion, a P/E ratio of 6.08 and a beta of 0.33. The business has a 50-day moving average of $34.42 and a 200-day moving average of $31.87.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Wednesday, July 1st. The company reported $1.56 earnings per share for the quarter. The company had revenue of $839.58 million for the quarter. Hamilton Insurance Group had a net margin of 19.56% and a return on equity of 22.60%. On average, equities analysts anticipate that Hamilton Insurance Group will post 4.89 EPS for the current year.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Hamilton Insurance Group by 39.4% in the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock valued at $196,094,000 after purchasing an additional 1,633,397 shares in the last quarter. Donald Smith & CO. Inc. acquired a new stake in Hamilton Insurance Group in the 2nd quarter valued at approximately $29,884,000. Freestone Grove Partners LP bought a new stake in Hamilton Insurance Group in the 4th quarter valued at approximately $16,667,000. Millennium Management LLC boosted its position in Hamilton Insurance Group by 89.8% during the 4th quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after acquiring an additional 417,261 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Hamilton Insurance Group by 101.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock worth $17,490,000 after acquiring an additional 355,947 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.