Hamilton Insurance Group (NYSE:HG) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Hamilton Insurance Group (NYSE:HG) had its target price boosted by equities research analysts at Citizens Jmp from $36.00 to $38.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective suggests a potential upside of 13.86% from the stock’s current price.

HG has been the topic of several other reports. Wall Street Zen lowered shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday. Wells Fargo & Company increased their price target on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Zacks Research lowered shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Hamilton Insurance Group Price Performance

HG traded up $0.61 on Friday, hitting $33.38. 74,722 shares of the company were exchanged, compared to its average volume of 521,603. The business’s fifty day moving average is $30.51 and its 200 day moving average is $28.17. The firm has a market capitalization of $3.31 billion, a P/E ratio of 6.01 and a beta of 0.53. Hamilton Insurance Group has a fifty-two week low of $18.36 and a fifty-two week high of $33.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.13 by $0.51. The business had revenue of $758.91 million for the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. As a group, sell-side analysts anticipate that Hamilton Insurance Group will post 3.46 EPS for the current year.

Hedge Funds Weigh In On Hamilton Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of HG. Wellington Management Group LLP lifted its stake in shares of Hamilton Insurance Group by 16.2% during the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after buying an additional 737,084 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of Hamilton Insurance Group by 71.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock valued at $43,325,000 after buying an additional 646,106 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Hamilton Insurance Group during the fourth quarter valued at approximately $16,667,000. Millennium Management LLC lifted its stake in shares of Hamilton Insurance Group by 89.8% during the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock valued at $24,599,000 after buying an additional 417,261 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Hamilton Insurance Group by 101.9% during the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock valued at $17,490,000 after buying an additional 355,947 shares during the period. Hedge funds and other institutional investors 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.