Citigroup Begins Coverage on Hamilton Insurance Group (NYSE:HG)

Key Points

• Citigroup has initiated coverage on Hamilton Insurance Group with a "neutral" rating and set a price target of $25.00, indicating a potential upside of 7.24% from the stock's previous close.
• Analysts from Wells Fargo and Wall Street Zen have upgraded their ratings, with Wells Fargo increasing their price target from $24.00 to $26.00 and Wall Street Zen moving from a "hold" to a "buy" rating.
• In its latest quarterly earnings, Hamilton Insurance Group reported $1.55 EPS, significantly exceeding expectations by $0.54, with total revenue of $712.03 million compared to analyst estimates of $519.50 million.

Citigroup assumed coverage on shares of Hamilton Insurance Group (NYSE:HG - Free Report) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $25.00 price objective on the stock.

Several other research analysts have also recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. BMO Capital Markets reaffirmed a "market perform" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a report on Thursday, June 5th. JMP Securities lifted their price target on Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price target on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Barclays lifted their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.14.

Hamilton Insurance Group Trading Down 4.3%

Shares of NYSE HG traded down $1.06 during trading on Wednesday, reaching $23.34. The stock had a trading volume of 779,666 shares, compared to its average volume of 427,185. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $24.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.69. The business's 50-day moving average price is $21.49 and its 200-day moving average price is $20.33. The company has a market cap of $2.37 billion, a P/E ratio of 6.45 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. The firm had revenue of $712.03 million during the quarter, compared to analysts' expectations of $519.50 million. On average, equities research analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Activity

In other news, CEO Adrian Joseph Daws sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the sale, the chief executive officer directly owned 190,440 shares of the company's stock, valued at approximately $4,189,680. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander James Baker sold 6,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the sale, the insider directly owned 116,338 shares of the company's stock, valued at $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.46% of the company's stock.

Institutional Trading of Hamilton Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HG. Geode Capital Management LLC raised its stake in Hamilton Insurance Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 478,057 shares of the company's stock valued at $9,097,000 after acquiring an additional 2,504 shares during the last quarter. Wells Fargo & Company MN raised its stake in Hamilton Insurance Group by 28.8% during the 4th quarter. Wells Fargo & Company MN now owns 23,408 shares of the company's stock valued at $445,000 after acquiring an additional 5,234 shares during the last quarter. Invesco Ltd. purchased a new stake in Hamilton Insurance Group during the 4th quarter valued at approximately $465,000. Legal & General Group Plc raised its stake in Hamilton Insurance Group by 19.0% during the 4th quarter. Legal & General Group Plc now owns 27,187 shares of the company's stock valued at $517,000 after acquiring an additional 4,336 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Hamilton Insurance Group by 295.1% during the 4th quarter. Sterling Capital Management LLC now owns 1,517 shares of the company's stock valued at $29,000 after acquiring an additional 1,133 shares during the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.