Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Hamilton Insurance Group (NYSE:HG) Stock

Hamilton Insurance Group (NYSE:HG) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $28.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 16.44% from the stock’s previous close.

HG has been the subject of a number of other reports. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. JMP Securities set a $32.00 price target on shares of Hamilton Insurance Group in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company upped their price objective on shares of Hamilton Insurance Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.63.

Hamilton Insurance Group Stock Up 0.1%

Hamilton Insurance Group stock traded up $0.03 during trading hours on Thursday, hitting $25.77. The company had a trading volume of 137,221 shares, compared to its average volume of 487,382. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $26.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $2.53 billion, a P/E ratio of 6.14 and a beta of 0.81. The firm’s fifty day moving average is $24.63 and its 200-day moving average is $22.78.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.61. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. The business had revenue of $698.85 million for the quarter, compared to the consensus estimate of $537.70 million. On average, research analysts forecast that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insider Activity

In related news, CEO Alexander James Baker sold 18,350 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $26.19, for a total value of $480,586.50. Following the completion of the transaction, the chief executive officer directly owned 84,136 shares in the company, valued at approximately $2,203,521.84. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Keith Donald Bernhard sold 47,000 shares of Hamilton Insurance Group stock in a transaction 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 sale, the insider owned 53,893 shares in the company, valued at $1,313,372.41. This represents a 46.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.46% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Several institutional investors have recently made changes to their positions in the business. Polymer Capital Management US LLC acquired a new position in Hamilton Insurance Group in the third quarter worth about $363,000. Mariner LLC raised its holdings in shares of Hamilton Insurance Group by 107.3% in the 3rd quarter. Mariner LLC now owns 57,687 shares of the company’s stock worth $1,431,000 after buying an additional 29,856 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Hamilton Insurance Group in the 3rd quarter worth approximately $245,000. Millennium Management LLC boosted its stake in Hamilton Insurance Group by 2.9% in the 3rd quarter. Millennium Management LLC now owns 464,406 shares of the company’s stock valued at $11,517,000 after buying an additional 13,018 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Hamilton Insurance Group in the third quarter valued at $3,962,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

About Hamilton Insurance Group

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.