Hamilton Insurance Group (NYSE:HG) Price Target Raised to $39.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised Hamilton Insurance Group’s price target from $34 to $39 and kept an outperform rating, implying about 13.75% upside from the current price.
• The stock was up 0.9% to $34.28 in Wednesday trading, near its 12-month high of $35.20. Hamilton Insurance also has a low debt-to-equity ratio of 0.06 and a market cap of about $3.4 billion.
• The company recently posted better-than-expected earnings, with Q1 EPS of $1.64 versus estimates of $1.08, though revenue came in below consensus. Insider selling has also been notable, with executives and directors selling shares over the last 90 days.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective boosted by investment analysts at Keefe, Bruyette & Woods from $34.00 to $39.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 13.75% from the company's current price.

A number of other research analysts also recently commented on HG. Weiss Ratings raised shares of Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, June 12th. Zacks Research upgraded shares of Hamilton Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. UBS Group set a $33.00 price target on shares of Hamilton Insurance Group in a research note on Thursday, May 21st. Barclays boosted their price objective on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Morgan Stanley upped their price objective on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.88.

Hamilton Insurance Group Trading Up 0.9%

HG stock traded up $0.30 during midday trading on Wednesday, hitting $34.28. The stock had a trading volume of 29,460 shares, compared to its average volume of 518,033. The company's 50-day moving average price is $31.65 and its 200 day moving average price is $30.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $3.40 billion, a PE ratio of 5.62 and a beta of 0.35. Hamilton Insurance Group has a 12-month low of $20.44 and a 12-month high of $35.20.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. On average, equities research analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In other news, Director David A. Brown sold 37,300 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.16, for a total value of $1,199,568.00. Following the transaction, the director owned 450,000 shares of the company's stock, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian John Deegan sold 11,000 shares of Hamilton Insurance Group stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $30.69, for a total transaction of $337,590.00. Following the transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 70,105 shares of company stock valued at $2,220,158 over the last 90 days. Corporate insiders own 3.02% of the company's stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in Hamilton Insurance Group during the 4th quarter worth $25,000. Chesapeake Asset Management LLC increased its position in shares of Hamilton Insurance Group by 487.8% during the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company's stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Hamilton Insurance Group by 112.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock worth $49,000 after acquiring an additional 937 shares during the last quarter. KBC Group NV acquired a new position in shares of Hamilton Insurance Group in the first quarter worth about $65,000. Finally, Royal Bank of Canada lifted its stake in shares of Hamilton Insurance Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock worth $84,000 after acquiring an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

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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