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

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

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.00 price target on shares of Hamilton Insurance Group in a research report on Tuesday, December 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Zacks Research downgraded Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Citigroup boosted their target price on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.29.

Hamilton Insurance Group Trading Down 0.6%

Shares of NYSE HG opened at $31.58 on Friday. The business has a 50 day simple moving average of $28.45 and a 200 day simple moving average of $26.26. Hamilton Insurance Group has a 52 week low of $16.80 and a 52 week high of $32.21. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 5.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data on Thursday, February 19th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.84%. On average, research analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Hamilton Insurance Group Dividend Announcement

The business also recently announced a special dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 6th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, March 6th.

Institutional Trading of Hamilton Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of HG. Royal Bank of Canada raised its position in shares of Hamilton Insurance Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after buying an additional 410 shares during the last quarter. Arizona State Retirement System increased its stake in Hamilton Insurance Group by 3.4% during the third quarter. Arizona State Retirement System now owns 13,881 shares of the company’s stock valued at $344,000 after acquiring an additional 458 shares during the period. Alps Advisors Inc. increased its stake in Hamilton Insurance Group by 2.6% during the third quarter. Alps Advisors Inc. now owns 18,774 shares of the company’s stock valued at $466,000 after acquiring an additional 469 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Hamilton Insurance Group by 14.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock valued at $99,000 after acquiring an additional 585 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Hamilton Insurance Group in the 4th quarter worth approximately $25,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Insurance Group Company Profile

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.