Hamilton Insurance Group (NYSE:HG) Given New $43.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised Hamilton Insurance Group’s price target from $40 to $43 while maintaining an “overweight” rating, implying 22.79% upside from the prior close.
• Analyst sentiment is generally positive: the stock has a consensus “Moderate Buy” rating and an average price target of $36.38, with recent upgrades from Zacks Research and Citizens JMP.
• Hamilton reported strong quarterly results, posting $1.78 EPS versus a $0.91 estimate and revenue of $828.04 million, above the $693.46 million consensus.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective upped by equities research analysts at Wells Fargo & Company from $40.00 to $43.00 in a report released on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 22.79% from the stock's previous close.

Several other research analysts also recently issued reports on HG. Zacks Research raised Hamilton Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Thursday. Citizens Jmp boosted their target price on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Friday, August 7th. Citigroup reiterated a "neutral" rating on shares of Hamilton Insurance Group in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods increased their price objective on shares of Hamilton Insurance Group from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley decreased their target price on Hamilton Insurance Group from $37.00 to $35.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.38.

Hamilton Insurance Group Stock Down 0.1%

Shares of NYSE:HG opened at $35.02 on Monday. The firm has a 50 day simple moving average of $34.88 and a 200 day simple moving average of $32.29. Hamilton Insurance Group has a 52 week low of $22.66 and a 52 week high of $37.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $3.45 billion, a PE ratio of 6.70 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.87. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. The company had revenue of $828.04 million during the quarter, compared to the consensus estimate of $693.46 million. As a group, research analysts expect that Hamilton Insurance Group will post 4.90 earnings per share for the current year.

Insiders Place Their Bets

In other Hamilton Insurance Group news, insider Timothy Duffin sold 28,500 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $34.53, for a total transaction of $984,105.00. Following the sale, the insider directly owned 223,459 shares in the company, valued at approximately $7,716,039.27. This trade represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Brown sold 50,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $36.12, for a total value of $1,806,000.00. Following the completion of the transaction, the director directly owned 400,000 shares in the company, valued at approximately $14,448,000. This represents a 11.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.02% of the company's stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Hamilton Insurance Group by 39.4% during the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company's stock valued at $196,094,000 after buying an additional 1,633,397 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Hamilton Insurance Group by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company's stock worth $44,659,000 after purchasing an additional 140,474 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hamilton Insurance Group by 32.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company's stock worth $40,312,000 after purchasing an additional 332,405 shares during the period. Lazard Asset Management LLC increased its stake in shares of Hamilton Insurance Group by 9.5% during the first quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company's stock valued at $31,309,000 after buying an additional 90,655 shares during the period. Finally, Donald Smith & CO. Inc. purchased a new stake in Hamilton Insurance Group in the second quarter worth about $29,884,000. 29.17% of the stock is owned by institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd. NYSE: HG is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton's offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.

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