Hamilton Insurance Group, Ltd. (NYSE:HG) Receives $34.00 Consensus Target Price from Brokerages

Hamilton Insurance Group, Ltd. (NYSE:HG) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $34.00.

A number of brokerages recently weighed in on HG. Citizens Jmp lifted their target price on shares of Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, June 12th. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price objective on Hamilton Insurance Group from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Finally, Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the transaction, the director directly owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian John Deegan sold 11,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in shares of Hamilton Insurance Group during the fourth quarter valued at about $25,000. Chesapeake Asset Management LLC increased its position 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 buying an additional 1,000 shares in the last quarter. Harbor Capital Advisors Inc. increased its position 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 buying an additional 937 shares in the last quarter. KBC Group NV acquired a new position in Hamilton Insurance Group during the 1st quarter worth approximately $65,000. Finally, Royal Bank of Canada raised its stake in Hamilton Insurance Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock worth $84,000 after buying an additional 410 shares during the period. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $31.49 on Monday. The company has a market capitalization of $3.13 billion, a PE ratio of 5.15 and a beta of 0.45. The company has a 50 day simple moving average of $31.25 and a two-hundred day simple moving average of $29.54. 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 has a fifty-two week low of $20.44 and a fifty-two week high of $33.72.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The firm had revenue of $758.91 million for the quarter, compared to the consensus estimate of $933.90 million. Research analysts anticipate that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

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.