Hamilton Insurance Group, Ltd. (NYSE:HG) Receives $28.63 Average Target Price from Brokerages

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $28.6250.

A number of brokerages have commented on HG. Wells Fargo & Company boosted their price target on shares of Hamilton Insurance Group from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their price objective on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research upgraded shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods raised their price target on shares of Hamilton Insurance Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a report on Wednesday, October 8th.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Keith Donald Bernhard sold 47,000 shares of Hamilton Insurance Group stock in a transaction on Friday, September 5th. The shares were sold at an average price of $24.37, for a total transaction of $1,145,390.00. Following the transaction, the insider directly owned 53,893 shares of the company’s stock, valued at $1,313,372.41. The trade was a 46.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexander James Baker sold 18,350 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $26.19, for a total transaction of $480,586.50. Following the completion of the sale, the chief executive officer owned 84,136 shares of the company’s stock, valued at approximately $2,203,521.84. This represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in Hamilton Insurance Group by 172.6% during the first quarter. CWM LLC now owns 1,698 shares of the company’s stock worth $35,000 after buying an additional 1,075 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of Hamilton Insurance Group by 38.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 26,800 shares of the company’s stock worth $556,000 after purchasing an additional 7,500 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Hamilton Insurance Group by 0.8% during the 1st quarter. Federated Hermes Inc. now owns 427,634 shares of the company’s stock worth $8,865,000 after purchasing an additional 3,423 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Hamilton Insurance Group in the 1st quarter worth approximately $3,333,000. Finally, Deutsche Bank AG lifted its stake in Hamilton Insurance Group by 0.6% in 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 during the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Stock Up 1.0%

HG stock opened at $27.88 on Thursday. The stock’s 50 day simple moving average is $25.07 and its 200 day simple moving average is $23.13. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $27.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $2.74 billion, a P/E ratio of 6.64 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.61. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%.The firm had revenue of $667.65 million during the quarter, compared to analysts’ expectations of $537.70 million. On average, research analysts expect that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

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.