Citizens Jmp Raises Hamilton Insurance Group (NYSE:HG) Price Target to $40.00

Key Points

• Citizens JMP raised Hamilton Insurance Group’s price target from $38 to $40 and kept an market outperform rating, implying about 17% upside from the prior close.
• Other analysts have also turned more positive: Keefe, Bruyette & Woods and Barclays both lifted targets to $39, while Wall Street Zen upgraded the stock to buy. Overall, analysts rate the shares a Moderate Buy with a consensus target of $35.38.
• Hamilton Insurance Group reported EPS of $1.64, beating expectations, though revenue came in below estimates. The stock was trading around $34.13, near its 52-week high of $35.20, and insiders and institutions have both been active in the shares recently.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its target price lifted by analysts at Citizens Jmp from $38.00 to $40.00 in a report released on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price objective indicates a potential upside of 17.19% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Keefe, Bruyette & Woods raised their target price on Hamilton Insurance Group from $34.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wall Street Zen raised Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. UBS Group set a $33.00 price target on Hamilton Insurance Group in a research note on Thursday, May 21st. Citigroup reissued an "outperform" rating on shares of Hamilton Insurance Group in a report on Friday. Finally, Barclays boosted their price objective on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Hamilton Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.38.

Hamilton Insurance Group Stock Down 1.0%

Hamilton Insurance Group stock opened at $34.13 on Friday. Hamilton Insurance Group has a twelve month low of $20.44 and a twelve month high of $35.20. The firm has a 50 day moving average price of $31.72 and a 200-day moving average price of $30.16. The company has a market capitalization of $3.39 billion, a P/E ratio of 5.59 and a beta of 0.35. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The company had revenue of $758.91 million for the quarter, compared to analysts' expectations of $933.90 million. As a group, equities analysts predict that Hamilton Insurance Group will post 4.12 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, CAO Brian John Deegan sold 11,000 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total transaction of $337,590.00. Following the sale, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. This represents a 13.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Brown sold 37,300 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the completion of the transaction, the director owned 450,000 shares of the company's stock, valued at $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 70,105 shares of company stock valued at $2,220,158 in the last quarter. 3.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HG. AQR Capital Management LLC boosted its stake in Hamilton Insurance Group by 186.0% during the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company's stock valued at $1,190,000 after buying an additional 37,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hamilton Insurance Group by 9.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company's stock worth $510,000 after acquiring an additional 2,071 shares during the last quarter. Millennium Management LLC increased its stake in Hamilton Insurance Group by 9.7% in the 1st quarter. Millennium Management LLC now owns 442,820 shares of the company's stock worth $9,180,000 after acquiring an additional 39,020 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Hamilton Insurance Group by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company's stock valued at $5,797,000 after acquiring an additional 20,926 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Hamilton Insurance Group by 87.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company's stock valued at $1,777,000 after acquiring an additional 39,927 shares during the last quarter. Institutional investors own 29.17% of the company's stock.

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.

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