Hamilton Insurance Group (NYSE:HG) Raised to Strong-Buy at Zacks Research

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

Several other brokerages have also recently weighed in on HG. Wells Fargo & Company upped their price target on Hamilton Insurance Group from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price target on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Barclays upped their price target on Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. Finally, Wall Street Zen cut Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.43.

Hamilton Insurance Group Price Performance

Shares of HG stock opened at $30.72 on Monday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 5.03 and a beta of 0.58. The business’s fifty day moving average is $30.46 and its 200 day moving average is $28.51. Hamilton Insurance Group has a twelve month low of $20.17 and a twelve month high of $33.72. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.56. The company had revenue of $758.91 million for the quarter, compared to analysts’ expectations of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. Research analysts expect that Hamilton Insurance Group will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, Treasurer Jonathan B. Levenson sold 3,030 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $30.67, for a total value of $92,930.10. Following the sale, the treasurer directly owned 45,704 shares of the company’s stock, valued at approximately $1,401,741.68. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. This trade represents a 13.36% 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 hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Hamilton Insurance Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock worth $131,378,000 after acquiring an additional 737,084 shares in the last quarter. Nuveen LLC raised its stake in shares of Hamilton Insurance Group by 3.5% in the fourth quarter. Nuveen LLC now owns 2,220,738 shares of the company’s stock worth $61,959,000 after purchasing an additional 74,194 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Hamilton Insurance Group by 71.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock worth $43,325,000 after purchasing an additional 646,106 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Hamilton Insurance Group by 1.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,373,491 shares of the company’s stock worth $34,063,000 after purchasing an additional 15,615 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 worth $40,312,000 after purchasing an additional 332,405 shares during the last quarter. 29.17% of the stock is owned by institutional investors.

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.