Hamilton Insurance Group (NYSE:HG) Price Target Raised to $42.00

Hamilton Insurance Group (NYSE:HG) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $40.00 to $42.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods‘s price target points to a potential upside of 15.47% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of 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. Wells Fargo & Company raised their target price on shares of Hamilton Insurance Group from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday. Barclays lifted their target price on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Citizens Jmp boosted their price target on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Finally, Citigroup reissued a “neutral” rating on shares of Hamilton Insurance Group in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.62.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock opened at $36.37 on Wednesday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 6.95 and a beta of 0.33. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $34.93 and a 200 day simple moving average of $32.39. Hamilton Insurance Group has a 52 week low of $22.66 and a 52 week high of $37.31.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.87. The firm had revenue of $828.04 million for the quarter, compared to analysts’ expectations of $693.46 million. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. On average, research analysts forecast that Hamilton Insurance Group will post 4.90 earnings per share for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In related news, insider Timothy Duffin sold 28,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $34.53, for a total transaction of $984,105.00. Following the transaction, the insider directly owned 223,459 shares of the company’s stock, valued at approximately $7,716,039.27. This trade represents a 11.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Brown sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the completion of the sale, the director owned 400,000 shares of the company’s stock, valued at $14,448,000. The trade was a 11.11% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allworth Financial LP lifted its holdings in shares of Hamilton Insurance Group by 45.8% in the 2nd quarter. Allworth Financial LP now owns 1,407 shares of the company’s stock worth $48,000 after acquiring an additional 442 shares during the last quarter. Kendall Capital Management boosted its stake in shares of Hamilton Insurance Group by 1.2% in the 3rd quarter. Kendall Capital Management now owns 40,944 shares of the company’s stock valued at $1,353,000 after purchasing an additional 475 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Hamilton Insurance Group by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 12,887 shares of the company’s stock valued at $437,000 after purchasing an additional 478 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Hamilton Insurance Group by 20.0% during the 1st quarter. Parallel Advisors LLC now owns 4,402 shares of the company’s stock valued at $131,000 after purchasing an additional 735 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Hamilton Insurance Group during the 2nd quarter valued at $34,000. 29.17% of the stock is 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.