Morgan Stanley Issues Positive Forecast for Hamilton Insurance Group (NYSE:HG) Stock Price

Key Points

• Morgan Stanley raised its price target for Hamilton Insurance Group from $21.00 to $23.00, maintaining an "equal weight" rating on the stock.
• The stock is currently trading around $23.34, reflecting a small decline of 0.1% during mid-day trading.
• Analysts have varied ratings on the stock with a consensus target price of $25.43, reflecting a mix of hold and buy recommendations from different firms.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its target price upped by stock analysts at Morgan Stanley from $21.00 to $23.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 1.80% from the company's current price.

Several other research firms have also issued reports on HG. Zacks Research raised shares of Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets reissued a "market perform" rating and issued a $23.00 price target on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. Wall Street Zen downgraded shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a research note on Sunday. Barclays boosted their price target 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. Finally, Citigroup started coverage on shares of Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price target for the company. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.43.

Hamilton Insurance Group Stock Up 1.7%

Shares of HG traded up $0.4020 during trading hours on Monday, reaching $23.4220. 533,398 shares of the stock traded hands, compared to its average volume of 515,650. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $21.53 and a 200 day simple moving average of $20.37. Hamilton Insurance Group has a 52 week low of $16.80 and a 52 week high of $24.54. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 6.48 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.01 by $0.54. The business had revenue of $712.03 million for 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%. On average, equities analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Buying and Selling

In related news, insider Alexander James Baker sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the transaction, the insider owned 116,338 shares of the company's stock, valued at approximately $2,767,681.02. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adrian Joseph Daws sold 6,000 shares of Hamilton Insurance Group stock in a transaction that occurred 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 in the company, valued at $4,189,680. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,988 shares of company stock valued at $730,452. 17.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several large investors have recently added to or reduced their stakes in HG. Amalgamated Bank increased its position in Hamilton Insurance Group by 92.2% in the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after purchasing an additional 685 shares during the last quarter. Arizona State Retirement System purchased a new position in Hamilton Insurance Group during the first quarter worth $267,000. Victory Capital Management Inc. boosted its stake in Hamilton Insurance Group by 279.5% during the first quarter. Victory Capital Management Inc. now owns 471,128 shares of the company's stock worth $9,766,000 after buying an additional 346,998 shares during the period. Bank of America Corp DE boosted its stake in Hamilton Insurance Group by 18.8% during the fourth quarter. Bank of America Corp DE now owns 212,586 shares of the company's stock worth $4,046,000 after buying an additional 33,613 shares during the period. Finally, Informed Momentum Co LLC purchased a new position in Hamilton Insurance Group during the first quarter worth $3,143,000. Hedge funds and other institutional investors own 29.17% of the company's stock.

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.