Hamilton Insurance Group (NYSE:HG) Price Target Raised to $42.00

Hamilton Insurance Group (NYSE:HG) had its target price increased by Keefe, Bruyette & Woods from $40.00 to $42.00 in a report issued on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on HG. Morgan Stanley cut their target price on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Zacks Research upgraded Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Weiss Ratings upgraded shares of Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a research report on Wednesday, October 21st. Citizens Jmp lifted their target price on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Finally, Barclays raised their price objective on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.62.

Hamilton Insurance Group Price Performance

Shares of NYSE:HG opened at $36.89 on Wednesday. The firm has a 50 day simple moving average of $35.05 and a 200 day simple moving average of $32.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. Hamilton Insurance Group has a one year low of $25.53 and a one year high of $38.14. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 7.05 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.87. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 24.05%. The company had revenue of $828.04 million for the quarter, compared to the consensus estimate of $693.46 million. Research analysts predict that Hamilton Insurance Group will post 4.90 earnings per share for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In related news, Director David A. Brown sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the completion of the transaction, the director directly owned 400,000 shares of the company’s stock, valued at $14,448,000. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Duffin sold 28,500 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $34.53, for a total value of $984,105.00. Following the completion of the transaction, the insider owned 223,459 shares of the company’s stock, valued at approximately $7,716,039.27. This represents a 11.31% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Hamilton Insurance Group by 39.4% in the 2nd quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock valued at $196,094,000 after purchasing an additional 1,633,397 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Hamilton Insurance Group by 10.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock valued at $44,659,000 after purchasing an additional 140,474 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Hamilton Insurance Group by 32.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock valued at $40,312,000 after buying an additional 332,405 shares during the period. Lazard Asset Management LLC lifted its holdings in Hamilton Insurance Group by 9.5% during the first quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company’s stock worth $31,309,000 after acquiring an additional 90,655 shares during the period. Finally, Donald Smith & CO. Inc. purchased a new position in Hamilton Insurance Group during the second quarter valued at approximately $29,884,000. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.