Hamilton Insurance Group (NYSE:HG) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Hamilton Insurance Group has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook from analysts.
• The stock has experienced a trading decline of 4.3% recently, positioning it at $23.34 with an average target price of $25.14.
• Despite the downgrade, several other research firms have raised their target prices for Hamilton Insurance Group in recent months, indicating mixed analyst sentiments.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

HG has been the topic of several other reports. Morgan Stanley lifted their target price on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. JMP Securities lifted their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Barclays lifted their target price on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Zacks Research raised shares of Hamilton Insurance Group to a "hold" rating in a research note on Tuesday, August 12th. Finally, Citigroup initiated coverage on shares of Hamilton Insurance Group in a research note on Wednesday. They issued a "neutral" rating and a $25.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Hamilton Insurance Group presently has an average rating of "Hold" and an average target price of $25.14.

Hamilton Insurance Group Trading Down 4.3%

Shares of HG opened at $23.34 on Friday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 6.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.69. Hamilton Insurance Group has a fifty-two week low of $16.80 and a fifty-two week high of $24.54. The firm has a 50 day moving average price of $21.49 and a 200-day moving average price of $20.33.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.54. The firm had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. As a group, equities research analysts forecast that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, CEO Adrian Joseph Daws sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Therese M. Vaughan acquired 4,750 shares of Hamilton Insurance Group stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $21.05 per share, for a total transaction of $99,987.50. Following the completion of the transaction, the director owned 20,892 shares in the company, valued at approximately $439,776.60. This trade represents a 29.43% increase in their position. The disclosure for this purchase can be found here. Insiders own 17.46% of the company's stock.

Institutional Trading of Hamilton Insurance Group

A number of hedge funds have recently modified their holdings of the business. Deutsche Bank AG boosted its holdings in shares of Hamilton Insurance Group by 0.6% during the 1st quarter. Deutsche Bank AG now owns 100,206 shares of the company's stock valued at $2,077,000 after buying an additional 555 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Hamilton Insurance Group by 1.0% during the 1st quarter. Rhumbline Advisers now owns 57,764 shares of the company's stock valued at $1,197,000 after buying an additional 557 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock valued at $99,000 after buying an additional 585 shares in the last quarter. Corebridge Financial Inc. boosted its stake in Hamilton Insurance Group by 3.1% in the 1st quarter. Corebridge Financial Inc. now owns 20,297 shares of the company's stock worth $421,000 after purchasing an additional 616 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Hamilton Insurance Group by 3.2% in the 4th quarter. Voya Investment Management LLC now owns 21,675 shares of the company's stock worth $412,000 after purchasing an additional 679 shares in the last quarter. Institutional investors own 29.17% of the company's stock.

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.

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