Hamilton Insurance Group (NYSE:HG) Upgraded at Zacks Research

Hamilton Insurance Group (NYSE:HG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on HG. Citizens Jmp lifted their price objective on Hamilton Insurance Group from $36.00 to $38.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Wall Street Zen cut Hamilton Insurance Group from a “buy” rating to a “hold” rating in a report on Sunday. Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. Barclays lifted their price objective on Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.43.

Hamilton Insurance Group Price Performance

NYSE HG opened at $30.72 on Monday. Hamilton Insurance Group has a one year low of $20.17 and a one year high of $33.72. The stock has a 50-day moving average of $30.46 and a 200 day moving average of $28.51. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.08 by $0.56. The company had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. On average, sell-side analysts forecast that Hamilton Insurance Group will post 3.95 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the completion of the sale, the chief accounting officer directly owned 71,347 shares in the company, valued at approximately $2,189,639.43. This represents a 13.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 3,030 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $30.67, for a total value of $92,930.10. Following the completion of the sale, the treasurer owned 45,704 shares of the company’s stock, valued at $1,401,741.68. This represents a 6.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.02% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds have recently made changes to their positions in HG. Kestra Advisory Services LLC purchased a new stake in shares of Hamilton Insurance Group in the 4th quarter worth $25,000. Chesapeake Asset Management LLC lifted its holdings in shares of Hamilton Insurance Group by 487.8% in the 4th quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock worth $34,000 after buying an additional 1,000 shares during the period. Versant Capital Management Inc lifted its stake in shares of Hamilton Insurance Group by 1,404.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock worth $42,000 after purchasing an additional 1,587 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Hamilton Insurance Group by 112.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Hamilton Insurance Group during the 1st quarter worth $65,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

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.