Hamilton Insurance Group (NYSE:HG) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Hamilton Insurance Group (NYSE:HG) had its price target lifted by analysts at Morgan Stanley from $31.00 to $33.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 3.25% from the stock’s current price.

Several other research firms also recently weighed in on HG. Keefe, Bruyette & Woods lifted their target price on Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Barclays boosted their price target on Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Citizens Jmp boosted their target price on Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Finally, Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Hamilton Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $34.14.

Hamilton Insurance Group Stock Down 1.3%

HG opened at $31.96 on Thursday. Hamilton Insurance Group has a fifty-two week low of $20.39 and a fifty-two week high of $33.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 5.24 and a beta of 0.58. The firm’s fifty day moving average is $30.62 and its 200 day moving average is $28.82.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. The company had revenue of $758.91 million for the quarter, compared to analysts’ expectations of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. On average, sell-side analysts forecast that Hamilton Insurance Group will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the transaction, the director owned 450,000 shares in the company, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares in the company, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 70,105 shares of company stock worth $2,220,158. Insiders own 3.02% of the company’s stock.

Institutional Trading of Hamilton Insurance Group

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. grew its stake in shares of Hamilton Insurance Group by 30.5% in the third quarter. Federated Hermes Inc. now owns 587,951 shares of the company’s stock worth $14,581,000 after acquiring an additional 137,501 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Hamilton Insurance Group in the third quarter valued at $2,222,000. Erste Asset Management GmbH acquired a new position in Hamilton Insurance Group during the 3rd quarter worth $1,146,000. SG Americas Securities LLC purchased a new stake in Hamilton Insurance Group during the 4th quarter worth about $9,351,000. Finally, Victory Capital Management Inc. raised its position in Hamilton Insurance Group by 7.0% in the 3rd quarter. Victory Capital Management Inc. now owns 498,237 shares of the company’s stock valued at $12,356,000 after purchasing an additional 32,683 shares in the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

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.