Citigroup Initiates Coverage on Hamilton Insurance Group (NYSE:HG)

Equities research analysts at Citigroup assumed coverage on shares of Hamilton Insurance Group (NYSE:HG) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $25.00 price target on the stock. Citigroup’s target price indicates a potential upside of 2.21% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley boosted their target price on Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $23.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Wells Fargo & Company boosted their price objective on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Barclays raised their target price on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Finally, JMP Securities lifted their price target on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Hamilton Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

Hamilton Insurance Group Stock Performance

Shares of NYSE:HG opened at $24.46 on Wednesday. The business has a fifty day moving average of $21.45 and a 200-day moving average of $20.30. The firm has a market cap of $2.48 billion, a PE ratio of 6.76 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.69. Hamilton Insurance Group has a twelve month low of $16.80 and a twelve month high of $24.54.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. The firm had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $519.50 million. On average, equities research analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, Director Therese M. Vaughan purchased 4,750 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average cost of $21.05 per share, for a total transaction of $99,987.50. Following the transaction, the director directly owned 20,892 shares of the company’s stock, valued at approximately $439,776.60. The trade was a 29.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total transaction of $142,740.00. Following the transaction, the insider directly owned 116,338 shares in the company, valued at $2,767,681.02. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Several large investors have recently bought and sold shares of HG. Wellington Management Group LLP raised its stake in shares of Hamilton Insurance Group by 26.1% in the 1st quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company’s stock valued at $96,570,000 after purchasing an additional 963,021 shares during the period. Nuveen LLC bought a new position in shares of Hamilton Insurance Group during the first quarter worth about $50,838,000. American Century Companies Inc. raised its position in Hamilton Insurance Group by 15.7% in the 2nd quarter. American Century Companies Inc. now owns 2,214,591 shares of the company’s stock valued at $47,879,000 after buying an additional 301,334 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Hamilton Insurance Group by 21.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,357,876 shares of the company’s stock valued at $29,357,000 after buying an additional 235,935 shares during the last quarter. Finally, Private Management Group Inc. lifted its stake in Hamilton Insurance Group by 0.6% in the 2nd quarter. Private Management Group Inc. now owns 891,164 shares of the company’s stock valued at $19,267,000 after acquiring an additional 5,168 shares in the last quarter. Institutional investors own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

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.