Hamilton Insurance Group, Ltd. (NYSE:HG) Receives $29.88 Average Price Target from Analysts

Hamilton Insurance Group, Ltd. (NYSE:HG) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.8750.

Several analysts have weighed in on the company. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen raised shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods lifted their target price on shares of Hamilton Insurance Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, JMP Securities set a $32.00 price target on Hamilton Insurance Group in a research note on Wednesday, November 5th.

Insiders Place Their Bets

In other Hamilton Insurance Group news, CEO Alexander James Baker sold 18,350 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $26.19, for a total transaction of $480,586.50. Following the transaction, the chief executive officer owned 84,136 shares in the company, valued at approximately $2,203,521.84. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Several large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in shares of Hamilton Insurance Group by 112.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares during the period. Kendall Capital Management raised its holdings in Hamilton Insurance Group by 7.9% during the 4th quarter. Kendall Capital Management now owns 37,179 shares of the company’s stock worth $1,037,000 after buying an additional 2,729 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Hamilton Insurance Group in the fourth quarter valued at approximately $907,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Hamilton Insurance Group in the fourth quarter valued at approximately $526,000. Finally, SG Americas Securities LLC bought a new stake in shares of Hamilton Insurance Group during the fourth quarter worth $9,351,000. 29.17% of the stock is currently owned by institutional investors.

Hamilton Insurance Group Stock Performance

HG stock opened at $26.94 on Friday. The company has a 50 day moving average price of $27.12 and a 200 day moving average price of $24.73. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $28.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $2.65 billion, a PE ratio of 6.41 and a beta of 0.69.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.61. The firm had revenue of $667.65 million for the quarter, compared to analyst estimates of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. Analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current year.

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.