Hamilton Insurance Group (NYSE:HG) Rating Lowered to “Hold” at Zacks Research

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

A number of other analysts have also weighed in on HG. Citizens Jmp raised their price target on shares of Hamilton Insurance Group from $36.00 to $38.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. Wells Fargo & Company lifted their price target on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Morgan Stanley lifted their target price on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Barclays lifted their price target on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.88.

Hamilton Insurance Group Price Performance

NYSE HG opened at $34.57 on Tuesday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 5.66 and a beta of 0.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a 52 week low of $20.44 and a 52 week high of $35.20. The company has a 50-day moving average price of $31.69 and a two-hundred day moving average price of $30.12.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Analysts forecast that Hamilton Insurance Group will post 4.12 EPS for the current year.

Insider Activity at Hamilton Insurance Group

In related news, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the sale, the treasurer directly owned 39,629 shares of the company’s stock, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian John Deegan sold 11,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total value of $337,590.00. Following the completion of the transaction, the chief accounting officer owned 71,347 shares of the company’s stock, valued at $2,189,639.43. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of hedge funds have recently made changes to their positions in HG. Cim LLC lifted its position in shares of Hamilton Insurance Group by 78.9% in the 1st quarter. Cim LLC now owns 21,262 shares of the company’s stock worth $634,000 after purchasing an additional 9,374 shares during the period. California State Teachers Retirement System boosted its holdings in Hamilton Insurance Group by 38.0% during the first quarter. California State Teachers Retirement System now owns 59,732 shares of the company’s stock worth $1,782,000 after purchasing an additional 16,437 shares during the last quarter. Empowered Funds LLC lifted its holdings in Hamilton Insurance Group by 10.9% during the first quarter. Empowered Funds LLC now owns 456,436 shares of the company’s stock worth $13,615,000 after acquiring an additional 44,690 shares during the period. Quantinno Capital Management LP increased its holdings in Hamilton Insurance Group by 30.9% during the first quarter. Quantinno Capital Management LP now owns 17,928 shares of the company’s stock worth $535,000 after buying an additional 4,232 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Hamilton Insurance Group by 9.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company’s stock worth $31,309,000 after purchasing an additional 90,655 shares during the period. 29.17% of the stock is currently owned by 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.