Wells Fargo & Company Issues Positive Forecast for Hamilton Insurance Group (NYSE:HG) Stock Price

Hamilton Insurance Group (NYSE:HG) had its price target increased by stock analysts at Wells Fargo & Company from $29.00 to $31.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 17.89% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods lifted their target price on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Morgan Stanley increased their price target on Hamilton Insurance Group from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Barclays lifted their price objective on shares of Hamilton Insurance Group from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Hamilton Insurance Group Stock Up 1.2%

Shares of HG traded up $0.31 during midday trading on Thursday, hitting $26.30. The stock had a trading volume of 58,737 shares, compared to its average volume of 486,480. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 6.23 and a beta of 0.81. The company has a 50 day simple moving average of $24.23 and a two-hundred day simple moving average of $22.24. Hamilton Insurance Group has a twelve month low of $16.80 and a twelve month high of $26.43. 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 (NYSE:HG) last released its earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.61. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.50%. The business had revenue of $698.85 million during the quarter, compared to the consensus estimate of $537.70 million. On average, analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Hamilton Insurance Group news, insider Keith Donald Bernhard sold 47,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 53,893 shares of the company’s stock, valued at $1,313,372.41. This trade represents a 46.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $24.00, for a total value of $455,712.00. Following the completion of the sale, the insider directly owned 64,512 shares in the company, valued at approximately $1,548,288. This represents a 22.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,988 shares of company stock worth $1,743,842. Company insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of Hamilton Insurance Group by 92.2% during the first quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock valued at $30,000 after acquiring an additional 685 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Hamilton Insurance Group during the 1st quarter valued at $267,000. Victory Capital Management Inc. increased its position in shares of Hamilton Insurance Group by 279.5% during the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company’s stock valued at $9,766,000 after purchasing an additional 346,998 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Hamilton Insurance Group by 60.4% in the 1st quarter. Swiss National Bank now owns 87,100 shares of the company’s stock worth $1,806,000 after buying an additional 32,800 shares during the last quarter. Finally, Informed Momentum Co LLC bought a new position in Hamilton Insurance Group during the first quarter valued at about $3,143,000. Institutional investors and hedge funds 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.