Hamilton Insurance Group (NYSE:HG) Price Target Raised to $25.00 at Morgan Stanley

Hamilton Insurance Group (NYSE:HG) had its price objective upped by Morgan Stanley from $23.00 to $25.00 in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the stock.

HG has been the topic of several other research reports. Citigroup started coverage on Hamilton Insurance Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Wall Street Zen cut Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. JMP Securities boosted their price objective on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.71.

Hamilton Insurance Group Trading Down 1.1%

NYSE:HG opened at $24.69 on Tuesday. 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 has a one year low of $16.80 and a one year high of $25.37. The business’s 50-day simple moving average is $23.66 and its 200 day simple moving average is $21.54. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 6.82 and a beta of 0.82.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%.The business had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $519.50 million. As a group, sell-side analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Keith Donald Bernhard sold 47,000 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $24.37, for a total transaction of $1,145,390.00. Following the completion of the transaction, the insider directly owned 53,893 shares of the company’s stock, valued at approximately $1,313,372.41. This represents a 46.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander James Baker sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the transaction, the insider directly owned 116,338 shares of the company’s stock, valued at $2,767,681.02. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,988 shares of company stock valued at $1,743,842. 17.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank grew its holdings in Hamilton Insurance Group by 92.2% in the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock worth $30,000 after buying an additional 685 shares in the last quarter. Arizona State Retirement System bought a new position in Hamilton Insurance Group in the 1st quarter worth approximately $267,000. Victory Capital Management Inc. grew its holdings in Hamilton Insurance Group by 279.5% in the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company’s stock worth $9,766,000 after buying an additional 346,998 shares in the last quarter. Swiss National Bank grew its holdings in Hamilton Insurance Group by 60.4% in the 1st quarter. Swiss National Bank now owns 87,100 shares of the company’s stock worth $1,806,000 after buying an additional 32,800 shares in the last quarter. Finally, Informed Momentum Co LLC bought a new position in Hamilton Insurance Group in the 1st quarter worth approximately $3,143,000. 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.