Hamilton Insurance Group (NYSE:HG) PT Set at $23.00 by Morgan Stanley

Hamilton Insurance Group (NYSE:HG) has been given a $23.00 price objective by research analysts at Morgan Stanley in a research note issued on Monday, Marketbeat Ratings reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 0.11% from the company’s current price.

HG has been the subject of several other research reports. Barclays upped their price target on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. JMP Securities upped their price target on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Citigroup began coverage on shares of Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Hamilton Insurance Group currently has an average rating of “Hold” and an average target price of $25.43.

Hamilton Insurance Group Trading Down 1.4%

HG stock opened at $23.03 on Monday. The company has a market capitalization of $2.31 billion, a PE ratio of 6.36 and a beta of 0.81. Hamilton Insurance Group has a one year low of $16.80 and a one year high of $24.54. The company’s 50 day moving average price is $21.53 and its two-hundred day moving average price is $20.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results 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. The business had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. As a group, analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Alexander James Baker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total value of $142,740.00. Following the transaction, the insider owned 116,338 shares of the company’s stock, valued at approximately $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adrian Joseph Daws sold 6,000 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the transaction, the chief executive officer directly owned 190,440 shares in the company, valued at $4,189,680. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,988 shares of company stock valued at $730,452. Company insiders own 17.46% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of large investors have recently modified their holdings of the company. Amalgamated Bank grew its stake in shares of Hamilton Insurance Group by 92.2% in the first quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock valued at $30,000 after buying an additional 685 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Hamilton Insurance Group by 295.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,517 shares of the company’s stock valued at $29,000 after buying an additional 1,133 shares in the last quarter. CWM LLC grew its stake in shares of Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company’s stock valued at $35,000 after buying an additional 1,075 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Hamilton Insurance Group in the first quarter valued at about $62,000. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock valued at $99,000 after buying an additional 585 shares in the last quarter. 29.17% of the stock is currently owned by hedge funds and other 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.