Hamilton Insurance Group (NYSE:HG) Price Target Lowered to $24.00 at Wells Fargo & Company

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $25.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 16.82% from the stock's current price.

A number of other brokerages have also recently commented on HG. Morgan Stanley upped their price target on Hamilton Insurance Group from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. BMO Capital Markets reaffirmed a "market perform" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Finally, Barclays upped their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Hamilton Insurance Group has an average rating of "Moderate Buy" and an average price target of $24.00.

Hamilton Insurance Group Stock Down 2.4%

Hamilton Insurance Group stock traded down $0.51 during midday trading on Thursday, hitting $20.55. 98,693 shares of the stock were exchanged, compared to its average volume of 538,436. Hamilton Insurance Group has a 52-week low of $15.31 and a 52-week high of $22.33. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 6.78 and a beta of 0.82. The business's 50-day moving average price is $20.92 and its 200-day moving average price is $19.82. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.43. The firm had revenue of $843.31 million for the quarter, compared to analysts' expectations of $498.00 million. Hamilton Insurance Group had a net margin of 13.28% and a return on equity of 12.41%. On average, research analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Activity at Hamilton Insurance Group

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 owned 190,440 shares of the company's stock, valued at $4,189,680. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Therese M. Vaughan purchased 4,750 shares of the stock in a transaction dated Monday, May 19th. The stock was acquired at an average cost of $21.05 per share, for a total transaction of $99,987.50. Following the transaction, the director owned 20,892 shares of the company's stock, valued at approximately $439,776.60. This trade represents a 29.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 17.46% of the company's stock.

Institutional Trading of Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of HG. Nuveen LLC bought a new stake in Hamilton Insurance Group during the 1st quarter worth approximately $50,838,000. Wellington Management Group LLP increased its holdings in Hamilton Insurance Group by 26.1% during the 1st quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company's stock worth $96,570,000 after acquiring an additional 963,021 shares during the period. Bridgeway Capital Management LLC increased its holdings in Hamilton Insurance Group by 398.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company's stock worth $12,060,000 after acquiring an additional 465,152 shares during the period. Victory Capital Management Inc. increased its holdings in Hamilton Insurance Group by 279.5% during the 1st quarter. Victory Capital Management Inc. now owns 471,128 shares of the company's stock worth $9,766,000 after acquiring an additional 346,998 shares during the period. Finally, Private Management Group Inc. increased its holdings in Hamilton Insurance Group by 60.4% during the 1st quarter. Private Management Group Inc. now owns 885,996 shares of the company's stock worth $18,367,000 after acquiring an additional 333,671 shares during the period. Institutional investors own 29.17% of the company's stock.

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.

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