Hamilton Insurance Group (NYSE:HG) Upgraded at Wall Street Zen

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

Other analysts also recently issued research reports about the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $26.00 price objective on shares of Hamilton Insurance Group in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods upped their price target 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. Barclays reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Hamilton Insurance Group in a report on Friday, February 20th. Citigroup lifted their price objective on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Citizens Jmp boosted their price objective on Hamilton Insurance Group from $32.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock opened at $29.23 on Friday. The company has a fifty day simple moving average of $29.30 and a 200-day simple moving average of $27.08. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 5.25 and a beta of 0.56. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $32.21.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96. The firm had revenue of $728.33 million for the quarter, compared to the consensus estimate of $621.00 million. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. On average, equities analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Hamilton Insurance Group Dividend Announcement

The company also recently declared a special dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 6th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, March 6th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in Hamilton Insurance Group in the fourth quarter valued at $25,000. Chesapeake Asset Management LLC grew its holdings in shares of Hamilton Insurance Group by 487.8% during the 4th quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Versant Capital Management Inc grew its holdings 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 period. Harbor Capital Advisors Inc. increased its position 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, State of Alaska Department of Revenue acquired a new stake in shares of Hamilton Insurance Group during the 3rd quarter worth about $71,000. 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.