Hamilton Insurance Group (NYSE:HG) Lowered 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 Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Several other equities research analysts have also commented on HG. Keefe, Bruyette & Woods boosted their price objective 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 reiterated a "market perform" rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. JMP Securities boosted their price objective on 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. Wells Fargo & Company boosted their price objective on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Barclays boosted their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hamilton Insurance Group currently has an average rating of "Hold" and a consensus price target of $25.43.

Hamilton Insurance Group Price Performance

Shares of Hamilton Insurance Group stock traded up $0.23 on Friday, hitting $24.05. The company's stock had a trading volume of 518,359 shares, compared to its average volume of 492,434. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. Hamilton Insurance Group has a 1 year low of $16.80 and a 1 year high of $24.54. The firm has a fifty day moving average price of $21.68 and a 200-day moving average price of $20.45. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 6.64 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, beating 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 analyst estimates of $519.50 million. As a group, sell-side analysts anticipate that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In related news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $24.00, for a total value of $455,712.00. Following the transaction, the insider directly owned 64,512 shares in the company, valued at approximately $1,548,288. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adrian Joseph Daws sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the transaction, the chief executive officer owned 190,440 shares in the company, valued at $4,189,680. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,988 shares of company stock worth $730,452. Insiders own 17.46% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of Hamilton Insurance Group in the second quarter valued at $327,000. Tower Research Capital LLC TRC raised its stake in shares of Hamilton Insurance Group by 24.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company's stock valued at $123,000 after acquiring an additional 1,101 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Hamilton Insurance Group in the second quarter valued at $230,000. Man Group plc raised its stake in shares of Hamilton Insurance Group by 207.5% in the second quarter. Man Group plc now owns 106,979 shares of the company's stock valued at $2,313,000 after acquiring an additional 72,189 shares in the last quarter. Finally, Engineers Gate Manager LP raised its stake in shares of Hamilton Insurance Group by 48.3% in the second quarter. Engineers Gate Manager LP now owns 135,679 shares of the company's stock valued at $2,933,000 after acquiring an additional 44,165 shares in the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

About Hamilton Insurance Group

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.