Hamilton Insurance Group, Ltd. (NYSE:HG) Given Average Recommendation of “Hold” by Brokerages

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) have been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $25.4286.

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a report on Sunday, August 17th. BMO Capital Markets restated a “market perform” rating and set a $23.00 price target on shares of Hamilton Insurance Group in a report on Thursday, June 5th. Wells Fargo & Company raised their price target on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. JMP Securities raised their price target on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Finally, Citigroup started coverage on shares of Hamilton Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $25.00 target price for the company.

Hamilton Insurance Group Trading Up 0.3%

HG opened at $24.35 on Friday. The company’s 50 day simple moving average is $22.57 and its two-hundred day simple moving average is $21.05. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 6.73 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. Hamilton Insurance Group has a 1-year low of $16.80 and a 1-year high of $24.67.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.54. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. Analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In related news, insider Keith Donald Bernhard sold 47,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $24.37, for a total value of $1,145,390.00. Following the completion of the sale, the insider owned 53,893 shares in the company, valued at approximately $1,313,372.41. This trade represents a 46.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of Hamilton Insurance Group stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.00, for a total transaction of $455,712.00. Following the completion of the sale, the insider owned 64,512 shares of the company’s stock, valued at $1,548,288. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,988 shares of company stock worth $1,743,842. Insiders own 17.46% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in Hamilton Insurance Group by 0.6% in the 1st quarter. Deutsche Bank AG now owns 100,206 shares of the company’s stock valued at $2,077,000 after buying an additional 555 shares during the period. Rhumbline Advisers lifted its position in shares of Hamilton Insurance Group by 1.0% during the 1st quarter. Rhumbline Advisers now owns 57,764 shares of the company’s stock worth $1,197,000 after purchasing an additional 557 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after purchasing an additional 585 shares during the last quarter. Corebridge Financial Inc. lifted its position in shares of Hamilton Insurance Group by 3.1% during the 1st quarter. Corebridge Financial Inc. now owns 20,297 shares of the company’s stock worth $421,000 after purchasing an additional 616 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of Hamilton Insurance Group by 92.2% during the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock worth $30,000 after purchasing an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.