Hamilton Insurance Group (NYSE:HG) Cut to Hold at Wall Street Zen

Hamilton Insurance Group (NYSE:HG) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts also recently weighed in on HG. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Citizens Jmp boosted their price target on Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective 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. Finally, Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $28.18 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $2.77 billion, a PE ratio of 6.71 and a beta of 0.70. The firm has a 50 day simple moving average of $25.91 and a 200-day simple moving average of $23.77. Hamilton Insurance Group has a 1-year low of $16.80 and a 1-year high of $28.70.

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

Insider Buying and Selling at Hamilton Insurance Group

In other news, CEO Alexander James Baker sold 18,350 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $26.19, for a total transaction of $480,586.50. Following the completion of the transaction, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at approximately $2,203,521.84. This represents a 17.90% 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. 17.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of Hamilton Insurance Group by 1,404.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after purchasing an additional 1,587 shares during the period. Flaharty Asset Management LLC acquired a new position in Hamilton Insurance Group during the first quarter worth about $62,000. State of Alaska Department of Revenue bought a new stake in Hamilton Insurance Group in the third quarter worth about $71,000. CWM LLC lifted its holdings in Hamilton Insurance Group by 167.7% in the 2nd quarter. CWM LLC now owns 4,545 shares of the company’s stock valued at $98,000 after acquiring an additional 2,847 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock valued at $99,000 after purchasing an additional 585 shares in the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.