Hamilton Insurance Group (NYSE:HG) Stock Lifted to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded Hamilton Insurance Group to “strong buy” from “hold.” Analysts overall maintain a “Moderate Buy” consensus rating with an average price target of $36.00.
• Hamilton reported quarterly EPS of $1.78, exceeding the $0.91 consensus estimate, while revenue of $828.04 million also surpassed expectations.
• The stock opened at $35.02, up 1.7%, with a market capitalization of approximately $3.45 billion; institutional investors own 29.17% of the company.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday, Zacks reports.

A number of other equities research analysts have also issued reports on HG. Keefe, Bruyette & Woods increased their price target on Hamilton Insurance Group from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Weiss Ratings raised Hamilton Insurance Group from a "buy (b+)" rating to a "buy (a)" rating in a research report on Wednesday, October 21st. Citizens Jmp upped 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 research note on Friday, August 7th. Citigroup reaffirmed a "neutral" rating on shares of Hamilton Insurance Group in a report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

Hamilton Insurance Group Stock Up 1.7%

Hamilton Insurance Group stock opened at $35.02 on Thursday. The firm has a market capitalization of $3.45 billion, a P/E ratio of 6.70 and a beta of 0.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group has a twelve month low of $22.66 and a twelve month high of $37.31. The stock's fifty day simple moving average is $34.88 and its 200-day simple moving average is $32.29.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $828.04 million during the quarter, compared to analyst estimates of $693.46 million. As a group, equities analysts expect that Hamilton Insurance Group will post 4.90 earnings per share for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

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

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Hamilton Insurance Group by 39.4% in the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company's stock valued at $196,094,000 after acquiring an additional 1,633,397 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Hamilton Insurance Group by 10.4% during the 1st 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 grew its stake in shares of 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 grew its stake in shares of Hamilton Insurance Group by 9.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company's stock worth $31,309,000 after purchasing an additional 90,655 shares during the period. Finally, Donald Smith & CO. Inc. acquired a new position in shares of Hamilton Insurance Group during the 2nd quarter worth $29,884,000. Hedge funds and other institutional investors own 29.17% of the company's stock.

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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