Hamilton Insurance Group (NYSE:HG) Given New $39.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Hamilton Insurance Group from $37 to $39 and kept an overweight rating, implying about 14.6% upside from the previous close.
• Analyst sentiment remains constructive overall: the stock now has six Buy ratings and three Hold ratings, with a consensus rating of Moderate Buy and a consensus target price of $35.12.
• Hamilton Insurance recently beat earnings estimates, posting $1.64 EPS versus $1.08 expected, though revenue came in below forecasts; the stock traded around $34.04, near its 52-week high of $35.20.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective upped by Wells Fargo & Company from $37.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 14.57% from the company's previous close.

Other equities research analysts have also issued reports about the company. UBS Group set a $33.00 price target on Hamilton Insurance Group in a research report on Thursday, May 21st. Citigroup reissued an "outperform" rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. Morgan Stanley upped their target price on Hamilton Insurance Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Monday. Citizens Jmp raised their target price on Hamilton Insurance Group from $36.00 to $38.00 and gave the stock a "market outperform" rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded Hamilton Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.12.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock traded down $0.45 on Thursday, reaching $34.04. 461,843 shares of the stock were exchanged, compared to its average volume of 521,367. The business has a 50 day moving average price of $31.69 and a two-hundred day moving average price of $30.12. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 5.58 and a beta of 0.35. Hamilton Insurance Group has a twelve month low of $20.44 and a twelve month high of $35.20. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.56. The business had revenue of $758.91 million for the quarter, compared to analysts' expectations of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. Analysts anticipate that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the sale, the chief accounting officer directly owned 71,347 shares in the company, valued at $2,189,639.43. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Brown sold 37,300 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the sale, the director directly owned 450,000 shares in the company, valued at approximately $14,472,000. The trade was a 7.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 70,105 shares of company stock valued at $2,220,158 in the last three months. 3.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HG. Wellington Management Group LLP grew its holdings in Hamilton Insurance Group by 16.2% during the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company's stock worth $131,378,000 after acquiring an additional 737,084 shares during the period. Donald Smith & CO. Inc. lifted its position in shares of Hamilton Insurance Group by 71.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock valued at $43,325,000 after acquiring an additional 646,106 shares during the period. Freestone Grove Partners LP acquired a new position in Hamilton Insurance Group during the fourth quarter worth $16,667,000. Millennium Management LLC boosted its position in shares of Hamilton Insurance Group by 89.8% in the 4th quarter. Millennium Management LLC now owns 881,667 shares of the company's stock worth $24,599,000 after buying an additional 417,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company's stock valued at $17,490,000 after purchasing an additional 355,947 shares in the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

About Hamilton Insurance Group

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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