Hamilton Insurance Group (NYSE:HG) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised Hamilton Insurance Group’s price target to $40 from $39 while maintaining an “outperform” rating, implying 12.52% potential upside from the reported $35.55 share price.
• Analyst sentiment remains positive overall: five analysts rate the stock a Buy and four rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $35.75.
• Hamilton reported quarterly EPS of $1.56 on revenue of $839.58 million, with a 22.78% return on equity and 19.56% net margin; shares were trading near their one-year high of $37.31.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price target raised by Keefe, Bruyette & Woods from $39.00 to $40.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 12.52% from the company's current price.

Several other research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Citizens Jmp raised their price objective on shares of Hamilton Insurance Group from $40.00 to $42.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Citigroup reiterated a "neutral" rating on shares of Hamilton Insurance Group in a research report on Wednesday. Morgan Stanley increased their price target on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Finally, Barclays raised their price target on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.75.

Hamilton Insurance Group Price Performance

HG stock traded up $0.34 during midday trading on Wednesday, reaching $35.55. 227,944 shares of the company's stock traded hands, compared to its average volume of 507,927. The company has a 50-day simple moving average of $33.71 and a two-hundred day simple moving average of $31.46. Hamilton Insurance Group has a 1-year low of $22.66 and a 1-year high of $37.31. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 6.19 and a beta of 0.33. 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 posted its quarterly earnings data on Wednesday, July 1st. The company reported $1.56 EPS for the quarter. The company had revenue of $839.58 million for the quarter. Hamilton Insurance Group had a return on equity of 22.78% and a net margin of 19.56%. On average, analysts anticipate that Hamilton Insurance Group will post 4.12 earnings per share for the current year.

Insiders Place Their Bets

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the transaction, the director directly owned 450,000 shares in the company, valued at approximately $14,472,000. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.02% of the company's stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Several large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new position in Hamilton Insurance Group during the fourth quarter worth about $25,000. KBC Group NV bought a new stake in shares of Hamilton Insurance Group in the 1st quarter valued at about $65,000. Royal Bank of Canada raised its position in shares of Hamilton Insurance Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock valued at $84,000 after acquiring an additional 410 shares during the period. Strs Ohio bought a new position in Hamilton Insurance Group during the 1st quarter worth approximately $112,000. Finally, Tower Research Capital LLC TRC grew its holdings in Hamilton Insurance Group by 24.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company's stock valued at $123,000 after purchasing an additional 1,101 shares during the period. 29.17% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source