Hamilton Insurance Group (NYSE:HG) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Hamilton Insurance Group to “Buy” from “Hold.” Analysts’ overall consensus is “Moderate Buy,” with a $36.62 average price target.
• Hamilton reported quarterly EPS of $1.78, topping the $0.91 consensus, while revenue of $828.04 million also exceeded expectations of $693.46 million.
• Shares opened at $36.89, near their 12-month high of $38.14. Two company insiders recently sold shares, though insiders retain a combined 3.02% stake.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also weighed in on the company. Weiss Ratings raised Hamilton Insurance Group from a "buy (b+)" rating to a "buy (a)" rating in a research note on Wednesday, October 21st. Citigroup restated a "neutral" rating on shares of Hamilton Insurance Group in a research note on Wednesday, August 12th. Zacks Research raised shares of Hamilton Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 29th. Morgan Stanley dropped their price objective on shares of Hamilton Insurance Group from $37.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 6th. Finally, Wells Fargo & Company raised their price objective on shares of Hamilton Insurance Group from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.62.

Hamilton Insurance Group Price Performance

NYSE HG opened at $36.89 on Friday. Hamilton Insurance Group has a 12 month low of $25.53 and a 12 month high of $38.14. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $35.05 and its two-hundred day moving average is $32.55. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 5.47 and a beta of 0.33.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.78 earnings per share 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 company had revenue of $828.04 million for the quarter, compared to the consensus estimate of $693.46 million. As a group, research analysts anticipate that Hamilton Insurance Group will post 4.90 earnings per share for the current year.

Insider Buying and Selling

In other Hamilton Insurance Group news, insider Timothy Duffin sold 28,500 shares of Hamilton Insurance Group 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 completion of the sale, the insider directly owned 223,459 shares of the company's stock, valued at $7,716,039.27. The trade was a 11.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Brown sold 50,000 shares of Hamilton Insurance Group stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total transaction of $1,806,000.00. Following the transaction, the director owned 400,000 shares of the company's stock, valued at approximately $14,448,000. The trade was a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.02% of the company's stock.

Institutional Trading of Hamilton Insurance Group

Hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH acquired a new stake in shares of Hamilton Insurance Group during the second quarter worth $1,186,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Hamilton Insurance Group during the second quarter worth $1,909,000. Arrowstreet Capital Limited Partnership raised its holdings in 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 during the last quarter. Sei Investments Co. boosted its position in shares of Hamilton Insurance Group by 72.9% during the 1st quarter. Sei Investments Co. now owns 380,717 shares of the company's stock worth $11,357,000 after purchasing an additional 160,575 shares in the last quarter. Finally, Wellington Management Group LLP lifted 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 purchasing an additional 1,633,397 shares in the last quarter. 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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