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

Zacks Research upgraded shares of Hamilton Insurance Group (NYSE:HG) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. 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. Wall Street Zen downgraded Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Barclays boosted their price objective on Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.43.

Hamilton Insurance Group Stock Performance

HG opened at $30.72 on Monday. The company has a market cap of $3.04 billion, a PE ratio of 5.03 and a beta of 0.58. The stock has a 50-day moving average of $30.46 and a 200-day moving average of $28.51. Hamilton Insurance Group has a 52-week low of $20.17 and a 52-week high of $33.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

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

Hamilton Insurance Group Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 6th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, March 6th.

Insider Activity

In related news, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total transaction of $337,590.00. Following the completion of the transaction, the chief accounting officer owned 71,347 shares of the company’s stock, valued at approximately $2,189,639.43. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 3,030 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $30.67, for a total value of $92,930.10. Following the transaction, the treasurer directly owned 45,704 shares of the company’s stock, valued at $1,401,741.68. This represents a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in Hamilton Insurance Group in the 4th quarter valued at approximately $25,000. Chesapeake Asset Management LLC raised its holdings in 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 acquiring an additional 1,000 shares in the last quarter. Versant Capital Management Inc raised its holdings in Hamilton Insurance Group by 1,404.4% in the 3rd quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after acquiring an additional 1,587 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in 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 in the last quarter. Finally, KBC Group NV acquired a new position in Hamilton Insurance Group in the 1st quarter valued at approximately $65,000. Institutional investors and hedge funds 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.