Hamilton Insurance Group (NYSE:HG) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Hamilton Insurance Group (NYSE:HG) from “strong-buy” to “hold”, though the stock still carries a broader analyst consensus of Moderate Buy with a target price of $34.88.
• The company recently reported earnings per share of $1.64, beating the consensus estimate of $1.08, but revenue of $758.91 million fell short of expectations.
• Hamilton Insurance Group’s shares were trading at $34.57, near their 12-month high of $35.20, while insiders sold stock in recent months and institutional investors increased their holdings.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

HG has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted their price target on shares of Hamilton Insurance Group from $34.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday. Weiss Ratings upgraded Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, June 12th. Wall Street Zen raised Hamilton Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Citigroup reiterated an "outperform" rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. Finally, Citizens Jmp increased their target price on Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a "market outperform" rating in a report on Friday, May 1st. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.88.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock opened at $34.57 on Tuesday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 5.66 and a beta of 0.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a 12 month low of $20.44 and a 12 month high of $35.20. The stock's 50 day moving average is $31.69 and its 200-day moving average is $30.12.

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

Insider Transactions at Hamilton Insurance Group

In related news, Director David A. Brown sold 37,300 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.16, for a total value 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 represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian John Deegan sold 11,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total transaction of $337,590.00. Following the completion of the sale, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. This represents a 13.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in Hamilton Insurance Group by 186.0% in the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company's stock valued at $1,190,000 after purchasing an additional 37,329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $510,000 after acquiring an additional 2,071 shares during the period. Millennium Management LLC raised its stake in shares of Hamilton Insurance Group by 9.7% during the first quarter. Millennium Management LLC now owns 442,820 shares of the company's stock valued at $9,180,000 after acquiring an additional 39,020 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Hamilton Insurance Group by 8.1% during the first 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Hamilton Insurance Group by 87.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company's stock worth $1,777,000 after purchasing an additional 39,927 shares during the period. 29.17% of the stock is currently owned by institutional investors.

Hamilton Insurance Group Company Profile

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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