Hamilton Insurance Group (NYSE:HG) Price Target Raised to $37.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Hamilton Insurance Group to $37 (from $34) and kept an "overweight" rating, implying about a 20.6% upside from the prior close.
• Several other analysts have also lifted targets (Barclays to $37, KBW to $35), leaving a consensus target of $33.43 and an average rating of "Moderate Buy" (six Buys, three Holds).
• Hamilton beat quarterly EPS estimates ($1.64 vs. $1.08), reported a 21.7% net margin, and the stock trades around $30.69 with a market cap of roughly $3.04 billion and a P/E of 5.07.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective increased by equities researchers at Wells Fargo & Company from $34.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 20.58% from the company's previous close.

Several other research analysts have also recently issued reports on HG. Barclays increased their target price on shares of Hamilton Insurance Group from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday, February 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Zacks Research downgraded Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Finally, Citigroup restated an "outperform" rating on shares of Hamilton Insurance Group in a research note on Friday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock opened at $30.69 on Wednesday. Hamilton Insurance Group has a 52 week low of $18.76 and a 52 week high of $33.72. The company has a market capitalization of $3.04 billion, a PE ratio of 5.07 and a beta of 0.58. The stock's fifty day moving average is $30.51 and its two-hundred day moving average is $28.27. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.56. The firm had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.18%. As a group, analysts expect that Hamilton Insurance Group will post 3.46 earnings per share for the current year.

Institutional Trading of Hamilton Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of HG. Royal Bank of Canada boosted its position in Hamilton Insurance Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock worth $84,000 after purchasing an additional 410 shares in the last quarter. Arizona State Retirement System boosted its holdings in Hamilton Insurance Group by 3.4% during the third quarter. Arizona State Retirement System now owns 13,881 shares of the company's stock worth $344,000 after buying an additional 458 shares in the last quarter. Alps Advisors Inc. grew its position in Hamilton Insurance Group by 2.6% during the third quarter. Alps Advisors Inc. now owns 18,774 shares of the company's stock valued at $466,000 after buying an additional 469 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Hamilton Insurance Group during the 4th quarter worth about $25,000. Finally, CWM LLC grew its position in shares of Hamilton Insurance Group by 4.2% during the 4th quarter. CWM LLC now owns 22,594 shares of the company's stock valued at $630,000 after acquiring an additional 919 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

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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