Hamilton Insurance Group (NYSE:HG) Given New $40.00 Price Target at Citizens Jmp

Hamilton Insurance Group (NYSE:HG) had its price objective upped by analysts at Citizens Jmp from $38.00 to $40.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price would indicate a potential upside of 17.19% from the stock’s previous close.

HG has been the subject of a number of other reports. Weiss Ratings upgraded Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group set a $33.00 target price on Hamilton Insurance Group in a research note on Thursday, May 21st. Barclays lifted their price target on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Zacks Research cut shares of Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.38.

Hamilton Insurance Group Stock Performance

Hamilton Insurance Group stock opened at $34.13 on Friday. Hamilton Insurance Group has a fifty-two week low of $20.44 and a fifty-two week high of $35.20. 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 $3.39 billion, a P/E ratio of 5.59 and a beta of 0.35. The firm’s fifty day moving average price is $31.72 and its 200-day moving average price is $30.16.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.56. The company had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. On average, equities research analysts expect that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, Treasurer Jonathan B. Levenson sold 6,075 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the sale, the treasurer owned 39,629 shares of the company’s stock, valued at $1,213,043.69. This trade represents a 13.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total transaction of $337,590.00. Following the completion of the transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 70,105 shares of company stock valued at $2,220,158 in the last quarter. Company insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. increased its position 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 period. SG Americas Securities LLC bought a new position in Hamilton Insurance Group in the 4th quarter worth $9,351,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Hamilton Insurance Group in the 4th quarter worth about $907,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Hamilton Insurance Group in the 4th quarter worth about $526,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Hamilton Insurance Group during the 1st quarter valued at about $3,229,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

About Hamilton Insurance Group

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.