Morgan Stanley Issues Positive Forecast for Hamilton Insurance Group (NYSE:HG) Stock Price

Hamilton Insurance Group (NYSE:HG) had its price target increased by Morgan Stanley from $19.00 to $20.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

HG has been the topic of several other reports. JMP Securities set a $27.00 price target on Hamilton Insurance Group in a research note on Friday, February 28th. Barclays set a $25.00 target price on Hamilton Insurance Group and gave the stock an “overweight” rating in a report on Thursday, February 27th. Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Wells Fargo & Company dropped their target price on Hamilton Insurance Group from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.80.

Hamilton Insurance Group Price Performance

Shares of HG stock opened at $21.24 on Monday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 4.75 and a beta of 0.61. The business’s fifty day moving average is $19.59 and its 200 day moving average is $19.17. Hamilton Insurance Group has a twelve month low of $15.19 and a twelve month high of $21.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.43. The company had revenue of $843.31 million for the quarter, compared to analysts’ expectations of $498.00 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. Research analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Adrian Joseph Daws sold 3,785 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $21.00, for a total transaction of $79,485.00. Following the transaction, the chief executive officer now directly owns 199,923 shares of the company’s stock, valued at $4,198,383. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 15,000 shares of company stock valued at $311,566. 17.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG lifted its holdings in shares of Hamilton Insurance Group by 0.6% during the first quarter. Deutsche Bank AG now owns 100,206 shares of the company’s stock valued at $2,077,000 after purchasing an additional 555 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Hamilton Insurance Group by 3.1% during the first quarter. Corebridge Financial Inc. now owns 20,297 shares of the company’s stock valued at $421,000 after purchasing an additional 616 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Hamilton Insurance Group by 3.2% during the fourth quarter. Voya Investment Management LLC now owns 21,675 shares of the company’s stock valued at $412,000 after purchasing an additional 679 shares in the last quarter. Amalgamated Bank increased its position in Hamilton Insurance Group by 92.2% during the first quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock valued at $30,000 after acquiring an additional 685 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hamilton Insurance Group by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,525 shares of the company’s stock valued at $429,000 after acquiring an additional 886 shares during the last quarter. 29.17% of the stock is owned by institutional investors.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.