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

Key Points

• Wall Street Zen downgraded Hamilton Insurance Group to “Hold” from “Buy,” although broader analyst sentiment remains positive: six analysts rate it Buy and three rate it Hold, producing a “Moderate Buy” consensus and a $35.62 average price target.
• Hamilton reported quarterly earnings of $1.56 per share on $839.58 million in revenue, with a 19.56% net margin and 22.78% return on equity. Analysts expect full-year earnings of approximately $4.12 per share.
• The stock opened at $35.91, near its 52-week high of $37.31, while insiders sold 56,075 shares worth about $1.79 million over the past three months; institutional investors own 29.17% of the company.

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

A number of other equities research analysts also recently weighed in on HG. Citigroup reaffirmed a "market outperform" rating on shares of Hamilton Insurance Group in a research note on Friday. UBS Group set a $33.00 target price on shares of Hamilton Insurance Group in a research report on Thursday, May 21st. Wells Fargo & Company boosted their price target on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Citizens Jmp increased their price target on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Friday. Finally, Weiss Ratings upgraded shares of Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $35.62.

Hamilton Insurance Group Price Performance

Hamilton Insurance Group stock opened at $35.91 on Friday. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 6.26 and a beta of 0.33. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $33.46 and a 200 day simple moving average of $31.32. Hamilton Insurance Group has a 52 week low of $22.31 and a 52 week high of $37.31.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $1.56 earnings per share for the quarter. The firm had revenue of $839.58 million for the quarter. Hamilton Insurance Group had a return on equity of 22.78% and a net margin of 19.56%. On average, research analysts forecast that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In other Hamilton Insurance Group 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 transaction of $1,199,568.00. Following the transaction, the director directly owned 450,000 shares in the company, valued at $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares in the company, valued at $1,213,043.69. This trade represents a 13.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 56,075 shares of company stock worth $1,789,638. 3.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently made changes to their positions in HG. AQR Capital Management LLC raised its position in Hamilton Insurance Group by 186.0% in the 1st quarter. AQR Capital Management LLC now owns 57,399 shares of the company's stock worth $1,190,000 after purchasing an additional 37,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hamilton Insurance Group by 9.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company's stock valued at $510,000 after buying an additional 2,071 shares during the period. Millennium Management LLC boosted its position in 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 buying an additional 39,020 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 buying an additional 20,926 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 valued at $1,777,000 after buying an additional 39,927 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

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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