Hamilton Insurance Group (NYSE:HG) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Hamilton Insurance Group (NYSE:HG) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other brokerages have also commented on HG. 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 note on Thursday, November 20th. Wells Fargo & Company increased their price objective on Hamilton Insurance Group from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. JMP Securities set a $32.00 target price on Hamilton Insurance Group in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Hamilton Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $29.88.

Hamilton Insurance Group Stock Up 4.5%

Shares of NYSE:HG opened at $29.10 on Monday. The firm has a market cap of $2.86 billion, a PE ratio of 6.93 and a beta of 0.70. The company has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $25.21. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group has a 12-month low of $16.80 and a 12-month high of $29.37.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $667.65 million for the quarter, compared to analyst estimates of $537.70 million. On average, equities research analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Activity

In other Hamilton Insurance Group news, CEO Alexander James Baker sold 18,350 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $26.19, for a total value of $480,586.50. Following the completion of the sale, the chief executive officer owned 84,136 shares in the company, valued at $2,203,521.84. This represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Hamilton Insurance Group by 3.4% during the 3rd quarter. Arizona State Retirement System now owns 13,881 shares of the company’s stock worth $344,000 after purchasing an additional 458 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Hamilton Insurance Group by 2.6% in the third quarter. Alps Advisors Inc. now owns 18,774 shares of the company’s stock worth $466,000 after purchasing an additional 469 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Hamilton Insurance Group by 14.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after buying an additional 585 shares during the last quarter. CWM LLC raised its holdings in Hamilton Insurance Group by 4.2% during the fourth quarter. CWM LLC now owns 22,594 shares of the company’s stock valued at $630,000 after buying an additional 919 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of 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 buying an additional 937 shares during the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

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.