Hamilton Insurance Group (NYSE:HG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hamilton Insurance Group (NYSE:HG) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on HG. Morgan Stanley reduced their price target on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Citigroup reiterated a “neutral” rating on shares of Hamilton Insurance Group in a report on Wednesday, August 12th. Keefe, Bruyette & Woods raised their target price on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, November 4th. Weiss Ratings raised shares of Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a research note on Wednesday, October 21st. Finally, Citizens Jmp lifted their target price on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.62.

Hamilton Insurance Group Stock Performance

Shares of HG stock opened at $37.37 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. Hamilton Insurance Group has a fifty-two week low of $25.53 and a fifty-two week high of $38.14. The stock has a 50 day moving average price of $35.09 and a two-hundred day moving average price of $32.60. The company has a market capitalization of $3.69 billion, a P/E ratio of 5.62 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.87. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 24.05%. The business had revenue of $828.04 million during the quarter, compared to analysts’ expectations of $693.46 million. Analysts expect that Hamilton Insurance Group will post 4.90 earnings per share for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, insider Timothy Duffin sold 28,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $34.53, for a total transaction of $984,105.00. Following the sale, the insider owned 223,459 shares of the company’s stock, valued at $7,716,039.27. This trade represents a 11.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Brown sold 50,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the completion of the sale, the director owned 400,000 shares of the company’s stock, valued at $14,448,000. This represents a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in Hamilton Insurance Group during the second quarter valued at $34,000. Allworth Financial LP boosted its stake in shares of Hamilton Insurance Group by 45.8% during the 2nd quarter. Allworth Financial LP now owns 1,407 shares of the company’s stock worth $48,000 after acquiring an additional 442 shares during the last quarter. KBC Group NV purchased a new stake in shares of Hamilton Insurance Group in the 1st quarter worth $65,000. Parallel Advisors LLC grew its holdings in Hamilton Insurance Group by 20.0% during the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after purchasing an additional 735 shares during the period. Finally, MGO One Seven LLC bought a new stake in Hamilton Insurance Group during the third quarter valued at about $210,000. 29.17% of the stock is owned by institutional investors.

About Hamilton Insurance Group

Hamilton Insurance Group is a global specialty insurance and reinsurance company headquartered in Bermuda. Founded in 2013, it operates through businesses in Bermuda, the United States and the United Kingdom.

The company underwrites a range of property, casualty and specialty risks, offering insurance and reinsurance products to businesses and other clients. Its operations include Hamilton Re in Bermuda, Hamilton Global Specialty in London and Hamilton Select in the United States.

Pina Albo became Hamilton Insurance Group’s chief executive officer in 2023.