Hamilton Insurance Group (NYSE:HG) Raised to “Buy” at Wall Street Zen

Hamilton Insurance Group (NYSE:HG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

HG has been the topic of several other research reports. Barclays restated an “overweight” rating and issued a $35.00 price target on shares of Hamilton Insurance Group in a research report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Citigroup lifted their target price on Hamilton Insurance Group from $28.50 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley set a $28.00 target price on Hamilton Insurance Group in a research report on Tuesday, December 16th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $26.00 price target on shares of Hamilton Insurance Group in a research report on Tuesday, December 23rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.29.

Hamilton Insurance Group Price Performance

NYSE:HG opened at $28.65 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $29.24 and its 200 day moving average price is $27.00. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $32.21. The firm has a market cap of $2.84 billion, a P/E ratio of 5.14 and a beta of 0.56.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Thursday, February 19th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. The company had revenue of $728.33 million during the quarter, compared to analyst estimates of $621.00 million. As a group, sell-side analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Institutional Trading of Hamilton Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Hamilton Insurance Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after buying an additional 410 shares in the last quarter. Arizona State Retirement System lifted its stake in Hamilton Insurance Group by 3.4% in the 3rd quarter. Arizona State Retirement System now owns 13,881 shares of the company’s stock worth $344,000 after acquiring an additional 458 shares in the last quarter. Alps Advisors Inc. boosted its position in Hamilton Insurance Group by 2.6% during the 3rd quarter. Alps Advisors Inc. now owns 18,774 shares of the company’s stock worth $466,000 after acquiring an additional 469 shares during the period. Ameritas Investment Partners Inc. boosted its position in Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after acquiring an additional 585 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Hamilton Insurance Group during the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 29.17% of the company’s stock.

About Hamilton Insurance Group

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.