Citizens Jmp Issues Positive Forecast for Hamilton Insurance Group (NYSE:HG) Stock Price

Key Points

• Citizens Jmp raised its price target on Hamilton Insurance Group from $35 to $36 and kept a "market outperform" rating, implying about a 16.5% upside from the current share price.
• Other analysts have also moved targets and ratings—Barclays to $37 and Keefe, Bruyette & Woods to $35—with the consensus summary showing 5 Buys, 4 Holds and an average target of $32.71 ("Moderate Buy").
• Hamilton recently reported a strong quarter with a $1.65 EPS vs. $0.69 expected and $728.3M revenue vs. $621M expected, and the stock trades at a low PE of 5.54 with a market cap of about $3.06B.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price target hoisted by equities researchers at Citizens Jmp from $35.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price objective points to a potential upside of 16.50% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Zacks Research cut shares of Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Wall Street Zen cut shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday. Barclays increased their price objective on shares of Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Hamilton Insurance Group in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.71.

Hamilton Insurance Group Price Performance

Shares of NYSE:HG opened at $30.90 on Monday. The firm's 50 day moving average price is $29.88 and its 200-day moving average price is $27.48. Hamilton Insurance Group has a twelve month low of $17.50 and a twelve month high of $32.21. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.06 billion, a PE ratio of 5.54 and a beta of 0.53.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96. Hamilton Insurance Group had a net margin of 19.85% and a return on equity of 19.43%. The firm had revenue of $728.33 million for the quarter, compared to analysts' expectations of $621.00 million. Equities research analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current year.

Institutional Investors Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in Hamilton Insurance Group by 30.5% during the 3rd quarter. Federated Hermes Inc. now owns 587,951 shares of the company's stock valued at $14,581,000 after buying an additional 137,501 shares in the last quarter. Inspire Investing LLC purchased a new stake in Hamilton Insurance Group during the 3rd quarter valued at approximately $1,082,000. Great Lakes Advisors LLC purchased a new stake in Hamilton Insurance Group during the 3rd quarter valued at approximately $2,222,000. Seizert Capital Partners LLC purchased a new stake in Hamilton Insurance Group during the 3rd quarter valued at approximately $2,106,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Hamilton Insurance Group during the 3rd quarter valued at approximately $1,385,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

About Hamilton Insurance Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.