Hamilton Insurance Group (NYSE:HG) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Hamilton Insurance Group (NYSE:HG) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts also recently weighed in on the company. JMP Securities set a $32.00 price target on Hamilton Insurance Group in a report on Wednesday, November 5th. Morgan Stanley set a $28.00 target price on Hamilton Insurance Group in a research note on Tuesday. Zacks Research raised shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Citizens Jmp raised their price target on shares of Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

Hamilton Insurance Group Stock Performance

Hamilton Insurance Group stock opened at $28.18 on Friday. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $28.70. The firm’s 50 day simple moving average is $25.91 and its 200-day simple moving average is $23.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $2.77 billion, a P/E ratio of 6.71 and a beta of 0.70.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.71 by $0.61. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. The business had revenue of $667.65 million during the quarter, compared to the consensus estimate of $537.70 million. As a group, equities research analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Hamilton Insurance Group news, CEO Alexander James Baker sold 18,350 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $26.19, for a total value of $480,586.50. Following the completion of the sale, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at $2,203,521.84. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of large investors have recently added to or reduced their stakes in HG. Arizona State Retirement System raised its position in shares of Hamilton Insurance Group by 3.4% in the third quarter. Arizona State Retirement System now owns 13,881 shares of the company’s stock valued at $344,000 after purchasing an additional 458 shares during the period. Alps Advisors Inc. grew its stake in Hamilton Insurance Group by 2.6% in the 3rd quarter. Alps Advisors Inc. now owns 18,774 shares of the company’s stock valued at $466,000 after buying an additional 469 shares during the last quarter. Rhumbline Advisers raised its holdings in Hamilton Insurance Group by 1.0% in the 1st quarter. Rhumbline Advisers now owns 57,764 shares of the company’s stock worth $1,197,000 after acquiring an additional 557 shares during the period. Ameritas Investment Partners Inc. lifted its position in Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after acquiring an additional 585 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in Hamilton Insurance Group by 3.1% during the first quarter. Corebridge Financial Inc. now owns 20,297 shares of the company’s stock valued at $421,000 after acquiring an additional 616 shares during the period. 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.