Zacks Research Upgrades Hamilton Insurance Group (NYSE:HG) to Strong-Buy

Hamilton Insurance Group (NYSE:HG) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other analysts also recently commented on HG. Citigroup reiterated a “neutral” rating on shares of Hamilton Insurance Group in a research report on Wednesday, August 12th. Wells Fargo & Company lowered their target price on Hamilton Insurance Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Keefe, Bruyette & Woods raised their price target on Hamilton Insurance Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Wall Street Zen cut Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citizens Jmp lifted their price target on Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Hamilton Insurance Group Price Performance

Shares of NYSE:HG opened at $35.02 on Thursday. The business’s 50 day simple moving average is $34.88 and its 200-day simple moving average is $32.29. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 6.70 and a beta of 0.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. Hamilton Insurance Group has a 12 month low of $22.66 and a 12 month high of $37.31.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.87. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. The business had revenue of $828.04 million for the quarter, compared to analysts’ expectations of $693.46 million. As a group, equities analysts forecast that Hamilton Insurance Group will post 4.90 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Timothy Duffin sold 28,500 shares of Hamilton Insurance Group stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $34.53, for a total transaction of $984,105.00. Following the completion of the sale, the insider directly owned 223,459 shares in the company, valued at $7,716,039.27. The trade was a 11.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Brown sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the completion of the transaction, the director directly owned 400,000 shares of the company’s stock, valued at approximately $14,448,000. This represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in Hamilton Insurance Group by 39.4% in the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock valued at $196,094,000 after purchasing an additional 1,633,397 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Hamilton Insurance Group by 10.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock worth $44,659,000 after buying an additional 140,474 shares during the period. Dimensional Fund Advisors LP lifted its position in Hamilton Insurance Group by 32.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock worth $40,312,000 after buying an additional 332,405 shares during the period. Lazard Asset Management LLC lifted its position in Hamilton Insurance Group by 9.5% during the first quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company’s stock worth $31,309,000 after buying an additional 90,655 shares during the period. Finally, Donald Smith & CO. Inc. acquired a new stake in Hamilton Insurance Group in the 2nd quarter worth about $29,884,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.