Hamilton Insurance Group (NYSE:HG) Price Target Raised to $43.00

Hamilton Insurance Group (NYSE:HG) had its price objective raised by Wells Fargo & Company from $40.00 to $43.00 in a report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also commented on HG. Zacks Research upgraded shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Keefe, Bruyette & Woods raised their price objective on shares of Hamilton Insurance Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Morgan Stanley reduced their price objective on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Wall Street Zen downgraded Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citizens Jmp upped their target price on Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.62.

Hamilton Insurance Group Trading Up 2.1%

HG stock opened at $37.24 on Monday. Hamilton Insurance Group has a one year low of $24.84 and a one year high of $37.49. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 5.50 and a beta of 0.33. The company has a fifty day moving average price of $34.98 and a two-hundred day moving average price of $32.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data 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 company had revenue of $828.04 million for the quarter, compared to analyst estimates of $693.46 million. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 24.05%. Equities analysts anticipate that Hamilton Insurance Group will post 4.90 EPS for the current year.

Insider Activity

In related news, insider Timothy Duffin sold 28,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Brown sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the transaction, the director directly owned 400,000 shares in the company, valued at approximately $14,448,000. This represents a 11.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in Hamilton Insurance Group by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,642 shares of the company’s stock worth $798,000 after buying an additional 936 shares in the last quarter. Vise Technologies Inc. increased its stake in Hamilton Insurance Group by 68.0% during the 3rd quarter. Vise Technologies Inc. now owns 10,244 shares of the company’s stock worth $338,000 after acquiring an additional 4,146 shares during the period. MGO One Seven LLC acquired a new position in Hamilton Insurance Group in the 3rd quarter valued at $210,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Hamilton Insurance Group by 36.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 76,650 shares of the company’s stock valued at $2,533,000 after acquiring an additional 20,400 shares in the last quarter. Finally, Kendall Capital Management raised its holdings in 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 acquiring an additional 475 shares in the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

About Hamilton Insurance Group

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.