Hamilton Insurance Group (NYSE:HG) Hits New 52-Week High on Analyst Upgrade

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price reached a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $25.00 to $27.00. Morgan Stanley currently has an equal weight rating on the stock. Hamilton Insurance Group traded as high as $26.88 and last traded at $26.27, with a volume of 648514 shares. The stock had previously closed at $26.08.

A number of other equities research analysts also recently weighed in on HG. Wall Street Zen upgraded shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. JMP Securities set a $32.00 price objective on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Wells Fargo & Company upped their target price on Hamilton Insurance Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Keefe, Bruyette & Woods raised their target price on Hamilton Insurance Group from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

Insider Buying and Selling

In related news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $24.00, for a total value of $455,712.00. Following the sale, the insider directly owned 64,512 shares in the company, valued at $1,548,288. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Keith Donald Bernhard sold 47,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $24.37, for a total transaction of $1,145,390.00. Following the completion of the transaction, the insider owned 53,893 shares in the company, valued at $1,313,372.41. This trade represents a 46.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several institutional investors have recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Hamilton Insurance Group in the first quarter valued at $50,838,000. Wellington Management Group LLP boosted its holdings in shares of Hamilton Insurance Group by 26.1% during the first quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company’s stock worth $96,570,000 after purchasing an additional 963,021 shares during the period. Donald Smith & CO. Inc. purchased a new position in Hamilton Insurance Group during the 2nd quarter valued at $14,272,000. Bridgeway Capital Management LLC lifted its stake in shares of Hamilton Insurance Group by 398.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company’s stock valued at $12,060,000 after purchasing an additional 465,152 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Hamilton Insurance Group by 279.5% in the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company’s stock worth $9,766,000 after purchasing an additional 346,998 shares in the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Stock Down 0.2%

The company has a market capitalization of $2.63 billion, a PE ratio of 6.24 and a beta of 0.81. The company’s 50-day moving average is $24.40 and its 200 day moving average is $22.49. 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 released its quarterly earnings data on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.71 by $0.61. The company had revenue of $698.85 million for the quarter, compared to analysts’ expectations of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. As a group, analysts anticipate that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current year.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.