Hamilton Insurance Group (NYSE:HG) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Hamilton Insurance Group (NYSE:HG) from a buy rating to a hold rating in a research note published on Sunday.

A number of other equities research analysts also recently commented on HG. Barclays upped their price objective on Hamilton Insurance Group from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Citizens Jmp upped their price objective on Hamilton Insurance Group from $36.00 to $38.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on Hamilton Insurance Group from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.43.

Hamilton Insurance Group Trading Down 0.0%

NYSE HG opened at $30.86 on Friday. The stock has a 50-day simple moving average of $30.50 and a 200 day simple moving average of $28.37. The company has a market capitalization of $3.06 billion, a PE ratio of 5.05 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a 12 month low of $20.17 and a 12 month high of $33.72.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.56. The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. Research analysts forecast that Hamilton Insurance Group will post 3.46 EPS for the current year.

Hamilton Insurance Group Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 6th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 6th.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the completion of the transaction, the chief accounting officer directly owned 71,347 shares of the company’s stock, valued at approximately $2,189,639.43. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Hamilton Insurance Group by 16.2% during the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock worth $131,378,000 after buying an additional 737,084 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of Hamilton Insurance Group by 71.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock worth $43,325,000 after buying an additional 646,106 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Hamilton Insurance Group during the fourth quarter worth about $16,667,000. Millennium Management LLC grew its holdings in shares of Hamilton Insurance Group by 89.8% during the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock worth $24,599,000 after buying an additional 417,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hamilton Insurance Group by 101.9% during the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock worth $17,490,000 after buying an additional 355,947 shares in the last quarter. 29.17% of the stock is owned by institutional investors and hedge funds.

Hamilton Insurance Group Company Profile

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.