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

Hamilton Insurance Group (NYSE:HG - Free Report) had its price target lowered by Wells Fargo & Company from $25.00 to $24.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently commented on HG. BMO Capital Markets restated a "market perform" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a report on Thursday, June 5th. Barclays increased their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Hamilton Insurance Group has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Hamilton Insurance Group Stock Performance

Shares of NYSE HG traded down $0.44 during midday trading on Thursday, reaching $20.61. 552,601 shares of the company traded hands, compared to its average volume of 540,478. The stock has a 50-day moving average price of $20.92 and a 200 day moving average price of $19.82. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 6.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.71 and a quick ratio of 0.71. Hamilton Insurance Group has a 52 week low of $15.31 and a 52 week high of $22.33.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.43. The business had revenue of $843.31 million during 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%. Sell-side analysts anticipate that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Activity

In other Hamilton Insurance Group news, Director Therese M. Vaughan acquired 4,750 shares of the business's stock in a transaction on Monday, May 19th. The stock was purchased at an average price of $21.05 per share, with a total value of $99,987.50. Following the acquisition, the director directly owned 20,892 shares of the company's stock, valued at approximately $439,776.60. This trade represents a 29.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adrian Joseph Daws sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the transaction, the chief executive officer owned 190,440 shares in the company, valued at $4,189,680. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. 17.46% of the stock is owned by insiders.

Institutional Trading of Hamilton Insurance Group

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Hamilton Insurance Group by 8.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company's stock valued at $5,797,000 after acquiring an additional 20,926 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Hamilton Insurance Group by 40.0% during the first quarter. Voya Investment Management LLC now owns 30,350 shares of the company's stock valued at $629,000 after purchasing an additional 8,675 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Hamilton Insurance Group by 1.0% during the first quarter. Rhumbline Advisers now owns 57,764 shares of the company's stock worth $1,197,000 after purchasing an additional 557 shares during the last quarter. Strs Ohio acquired a new position in shares of Hamilton Insurance Group in the first quarter valued at approximately $112,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Hamilton Insurance Group in the first quarter valued at approximately $62,000. 29.17% of the stock is owned by institutional investors and hedge funds.

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.