Hamilton Insurance Group (NYSE:HG) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Hamilton Insurance Group (NYSE:HG) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley dropped 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 report on Tuesday, October 6th. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Keefe, Bruyette & Woods raised their price target on Hamilton Insurance Group from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup restated a “neutral” rating on shares of Hamilton Insurance Group in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.62.

Hamilton Insurance Group Stock Down 0.2%

Shares of NYSE:HG opened at $36.89 on Friday. Hamilton Insurance Group has a fifty-two week low of $25.53 and a fifty-two week high of $38.14. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $35.05 and its 200-day simple moving average is $32.55. 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 posted its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.87. The firm had revenue of $828.04 million during the quarter, compared to analysts’ expectations of $693.46 million. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 23.76%. As a group, equities research analysts predict that Hamilton Insurance Group will post 4.90 earnings per share for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In related news, Director David Brown sold 50,000 shares of Hamilton Insurance Group stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction 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 approximately $14,448,000. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Timothy Duffin sold 28,500 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $34.53, for a total value of $984,105.00. Following the sale, the insider owned 223,459 shares in the company, valued at approximately $7,716,039.27. The trade was a 11.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.02% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in HG. NewEdge Advisors LLC purchased a new position in Hamilton Insurance Group during the 2nd quarter valued at about $34,000. Allworth Financial LP lifted its holdings in shares of Hamilton Insurance Group by 45.8% in the second quarter. Allworth Financial LP now owns 1,407 shares of the company’s stock valued at $48,000 after purchasing an additional 442 shares in the last quarter. KBC Group NV purchased a new stake in shares of Hamilton Insurance Group in the first quarter valued at about $65,000. Parallel Advisors LLC lifted its holdings in shares of Hamilton Insurance Group by 20.0% in the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after purchasing an additional 735 shares in the last quarter. Finally, MGO One Seven LLC acquired a new stake in shares of Hamilton Insurance Group in the third quarter valued at approximately $210,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

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.