Hamilton Insurance Group (NYSE:HG) Given New $23.00 Price Target at Morgan Stanley

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 increased by analysts at Morgan Stanley from $21.00 to $23.00 in a note issued to investors on Monday, MarketBeat reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target indicates a potential downside of 4.60% from the stock's current price.

Several other analysts have also commented on HG. Zacks Research upgraded shares of Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. Wells Fargo & Company raised their price target on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Barclays raised their price target on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. JMP Securities lifted their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Finally, Citigroup initiated coverage on shares of Hamilton Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $25.00 target price on the stock. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.43.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock traded up $0.02 during trading on Monday, hitting $24.11. 441,654 shares of the company's stock were exchanged, compared to its average volume of 502,244. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 6.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. The business has a 50-day simple moving average of $21.74 and a 200-day simple moving average of $20.49. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $24.54.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.01 by $0.54. The company 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, research analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Buying and Selling

In other news, CEO Adrian Joseph Daws sold 6,000 shares of the business'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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $24.00, for a total transaction of $455,712.00. Following the completion of the sale, the insider directly owned 64,512 shares in the company, valued at $1,548,288. This trade represents a 22.74% 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. 17.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

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

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.