Barclays Boosts Hamilton Insurance Group (NYSE:HG) Price Target to $37.00

Hamilton Insurance Group (NYSE:HG) had its target price upped by stock analysts at Barclays from $35.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 18.54% from the company’s current price.

HG has been the subject of a number of other reports. Zacks Research cut Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Wall Street Zen upgraded Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Morgan Stanley set a $28.00 target price on Hamilton Insurance Group in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price target on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.57.

Hamilton Insurance Group Stock Performance

Shares of HG stock opened at $31.21 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $3.09 billion, a P/E ratio of 5.60 and a beta of 0.53. The firm’s 50 day moving average price is $29.82 and its 200-day moving average price is $27.39. Hamilton Insurance Group has a one year low of $16.80 and a one year high of $32.21.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Saturday, February 14th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.96. The firm had revenue of $728.33 million during the quarter, compared to the consensus estimate of $621.00 million. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. As a group, equities research analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in shares of Hamilton Insurance Group during the fourth quarter worth about $25,000. Chesapeake Asset Management LLC raised its holdings in Hamilton Insurance Group by 487.8% in the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. Versant Capital Management Inc raised its holdings in Hamilton Insurance Group by 1,404.4% in the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after acquiring an additional 1,587 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after acquiring an additional 937 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Hamilton Insurance Group in the third quarter worth approximately $71,000. Hedge funds and other institutional investors 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.