Hamilton Insurance Group (NYSE:HG) Downgraded by Zacks Research to Hold

Hamilton Insurance Group (NYSE:HG) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. JMP Securities set a $32.00 price target on Hamilton Insurance Group in a report on Wednesday, November 5th. Wells Fargo & Company increased their price objective on Hamilton Insurance Group from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Morgan Stanley set a $28.00 target price on Hamilton Insurance Group in a report on Tuesday, December 16th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hamilton Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $29.88.

Hamilton Insurance Group Stock Up 0.1%

NYSE:HG opened at $27.84 on Monday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 6.63 and a beta of 0.70. Hamilton Insurance Group has a twelve month low of $16.80 and a twelve month high of $28.72. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $27.33 and a 200-day simple moving average of $25.18.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, topping 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 15.07%. The firm had revenue of $667.65 million for the quarter, compared to analysts’ expectations of $537.70 million. Analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Activity

In other news, CEO Alexander James Baker sold 18,350 shares of Hamilton Insurance Group stock in a transaction on Friday, November 14th. The stock was sold at an average price of $26.19, for a total value of $480,586.50. Following the transaction, the chief executive officer directly owned 84,136 shares in the company, valued at approximately $2,203,521.84. This trade represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Chesapeake Asset Management LLC raised its position in shares of Hamilton Insurance Group by 487.8% in the 4th quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Hamilton Insurance Group by 1,404.4% during the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after buying an additional 1,587 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock valued at $49,000 after acquiring an additional 937 shares during the period. State of Alaska Department of Revenue purchased a new position in Hamilton Insurance Group in the 3rd quarter worth $71,000. Finally, CWM LLC raised its stake in Hamilton Insurance Group by 167.7% in the 2nd quarter. CWM LLC now owns 4,545 shares of the company’s stock worth $98,000 after acquiring an additional 2,847 shares during the last quarter. Institutional investors own 29.17% of the company’s stock.

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.