Hamilton Insurance Group (NYSE:HG) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Hamilton Insurance Group (NYSE:HG) from a buy rating to a hold rating in a report released on Saturday.

HG has been the subject of several other research reports. Weiss Ratings raised shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. Citizens Jmp lifted their price target on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research report on Friday. Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group set a $33.00 price objective on Hamilton Insurance Group in a research report on Thursday, May 21st. Finally, Zacks Research cut Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Six 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, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $35.62.

Hamilton Insurance Group Stock Down 3.4%

Shares of HG opened at $34.69 on Friday. Hamilton Insurance Group has a 52-week low of $22.47 and a 52-week high of $37.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $33.58 and a two-hundred day simple moving average of $31.41. The company has a market capitalization of $3.44 billion, a PE ratio of 6.04 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $1.56 earnings per share for the quarter. Hamilton Insurance Group had a net margin of 19.56% and a return on equity of 22.78%. The firm had revenue of $839.58 million for the quarter. As a group, equities analysts forecast that Hamilton Insurance Group will post 4.12 EPS for the current year.

Insider Activity at Hamilton Insurance Group

In related news, Director David A. Brown sold 37,300 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the sale, the director directly owned 450,000 shares of the company’s stock, valued at $14,472,000. This represents a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the sale, the treasurer owned 39,629 shares in the company, valued at approximately $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 56,075 shares of company stock worth $1,789,638. 3.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in Hamilton Insurance Group during the 4th quarter worth about $25,000. KBC Group NV purchased a new position in shares of Hamilton Insurance Group in the 1st quarter valued at about $65,000. Royal Bank of Canada boosted its stake in shares of Hamilton Insurance Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after buying an additional 410 shares during the period. Strs Ohio acquired a new position in shares of Hamilton Insurance Group during the first quarter worth about $112,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Hamilton Insurance Group by 24.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company’s stock worth $123,000 after buying an additional 1,101 shares in the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

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.