Hamilton Insurance Group (NYSE:HG) Price Target Raised to $42.00 at Citizens Jmp

Hamilton Insurance Group (NYSE:HG) had its price objective boosted by analysts at Citizens Jmp from $40.00 to $42.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would indicate a potential upside of 17.61% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings upgraded Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. Citigroup reaffirmed a “market outperform” rating on shares of Hamilton Insurance Group in a research note on Friday. Zacks Research downgraded shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Morgan Stanley boosted their price target on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $35.62.

Hamilton Insurance Group Trading Up 0.5%

Shares of NYSE:HG traded up $0.16 during trading on Friday, reaching $35.71. 80,747 shares of the company were exchanged, compared to its average volume of 509,964. The business’s fifty day simple moving average is $33.34 and its 200-day simple moving average is $31.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. Hamilton Insurance Group has a 12-month low of $22.31 and a 12-month high of $37.31. The firm has a market capitalization of $3.54 billion, a PE ratio of 5.85 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $1.56 earnings per share (EPS) for the quarter. The firm had revenue of $839.58 million during the quarter. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. On average, research analysts anticipate that Hamilton Insurance Group will post 4.12 EPS for the current year.

Insider Buying and Selling

In other news, Director David A. Brown sold 37,300 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the sale, the director owned 450,000 shares of the company’s stock, valued at $14,472,000. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares in the company, valued at $1,213,043.69. This represents a 13.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 56,075 shares of company stock worth $1,789,638. Insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in 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 worth $131,378,000 after acquiring an additional 737,084 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in Hamilton Insurance Group by 71.3% during 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 Hamilton Insurance Group during the 4th quarter valued at about $16,667,000. Millennium Management LLC increased its holdings in shares of Hamilton Insurance Group by 89.8% in the fourth 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Hamilton Insurance Group by 101.9% in the third 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 period. 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.