Barclays Lowers Hamilton Insurance Group (NYSE:HG) Price Target to $24.00

Hamilton Insurance Group (NYSE:HG) had its price objective cut by Barclays from $26.00 to $24.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Hamilton Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $22.20.

Hamilton Insurance Group Price Performance

Shares of HG opened at $18.92 on Monday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 4.23 and a beta of 1.03. Hamilton Insurance Group has a 1 year low of $12.44 and a 1 year high of $20.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $18.66 and a 200-day moving average of $18.13.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. The firm had revenue of $512.84 million for the quarter, compared to analyst estimates of $515.96 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities research analysts anticipate that Hamilton Insurance Group will post 4.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Brian John Deegan sold 17,500 shares of Hamilton Insurance Group stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $19.18, for a total value of $335,650.00. Following the completion of the sale, the chief accounting officer now directly owns 20,824 shares in the company, valued at approximately $399,404.32. This trade represents a 45.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of HG. JPMorgan Chase & Co. grew its position in shares of Hamilton Insurance Group by 538.4% during the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after purchasing an additional 727,242 shares in the last quarter. Franklin Resources Inc. lifted its stake in Hamilton Insurance Group by 90.0% in the 3rd quarter. Franklin Resources Inc. now owns 99,190 shares of the company’s stock worth $1,845,000 after purchasing an additional 46,978 shares in the last quarter. Barclays PLC lifted its stake in Hamilton Insurance Group by 845.0% in the 3rd quarter. Barclays PLC now owns 57,663 shares of the company’s stock worth $1,114,000 after purchasing an additional 51,561 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Hamilton Insurance Group during the third quarter valued at about $97,000. Finally, Geode Capital Management LLC grew its position in shares of Hamilton Insurance Group by 136.5% during the third quarter. Geode Capital Management LLC now owns 475,553 shares of the company’s stock valued at $9,197,000 after purchasing an additional 274,483 shares in the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.