Hamilton Insurance Group (NYSE:HG) Price Target Raised to $37.00

Hamilton Insurance Group (NYSE:HG) had its target price upped by Wells Fargo & Company from $34.00 to $37.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Citizens Jmp lifted their price target on Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a “market outperform” rating in a report on Friday, May 1st. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays lifted their price target on Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.43.

Hamilton Insurance Group Trading Up 0.6%

HG opened at $30.86 on Wednesday. Hamilton Insurance Group has a 12 month low of $20.17 and a 12 month high of $33.72. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 5.05 and a beta of 0.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.64. The business has a fifty day moving average price of $30.50 and a 200 day moving average price of $28.37.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The firm had revenue of $758.91 million during the quarter, compared to analysts’ expectations of $933.90 million. Sell-side analysts expect that Hamilton Insurance Group will post 3.46 earnings per share for the current fiscal year.

Hamilton Insurance Group Dividend Announcement

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

Insider Buying and Selling at Hamilton Insurance Group

In other news, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,189,639.43. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.02% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in HG. Wellington Management Group LLP lifted its holdings in shares of Hamilton Insurance Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after purchasing an additional 737,084 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of Hamilton Insurance Group by 71.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock valued at $43,325,000 after purchasing an additional 646,106 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Hamilton Insurance Group in the 4th quarter valued at about $16,667,000. Millennium Management LLC lifted its holdings in shares of Hamilton Insurance Group by 89.8% in the 4th quarter. Millennium Management LLC now owns 881,667 shares of the company’s stock valued at $24,599,000 after purchasing an additional 417,261 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Hamilton Insurance Group by 101.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock valued at $17,490,000 after purchasing an additional 355,947 shares during the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Company Profile

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.