Hamilton Insurance Group (NYSE:HG) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Hamilton Insurance Group from “buy” to “hold,” adding to a mixed analyst picture for the stock.
• Even with the downgrade, the broader consensus remains fairly constructive: MarketBeat shows six Buy ratings and three Hold ratings, with an average rating of “Moderate Buy” and a $33.43 consensus target price.
• The company recently beat earnings estimates, reporting $1.64 EPS versus the expected $1.08, though revenue came in below forecasts at $758.91 million.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

A number of other brokerages have also commented on HG. Zacks Research lowered Hamilton Insurance Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Wells Fargo & Company upped their target price on Hamilton Insurance Group from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup restated an "outperform" rating on shares of Hamilton Insurance Group in a research note on Friday, May 1st. Barclays upped their target price on Hamilton Insurance Group from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

Hamilton Insurance Group Stock Performance

Shares of NYSE HG opened at $30.86 on Friday. The business has a fifty day simple moving average of $30.50 and a 200 day simple moving average of $28.37. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 5.05 and a beta of 0.58. Hamilton Insurance Group has a one year low of $20.17 and a one year high of $33.72.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.56. The business had revenue of $758.91 million during the quarter, compared to analyst estimates of $933.90 million. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%. Sell-side analysts expect that Hamilton Insurance Group will post 3.46 EPS for the current year.

Insider Transactions at Hamilton Insurance Group

In related news, CAO Brian John Deegan sold 11,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in Hamilton Insurance Group in the fourth quarter valued at about $25,000. Chesapeake Asset Management LLC boosted its holdings in Hamilton Insurance Group by 487.8% in the fourth quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company's stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Hamilton Insurance Group by 1,404.4% in the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company's stock valued at $42,000 after acquiring an additional 1,587 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock valued at $49,000 after acquiring an additional 937 shares during the last quarter. Finally, KBC Group NV bought a new position in Hamilton Insurance Group in the first quarter valued at about $65,000. Institutional investors own 29.17% of the company's stock.

Hamilton Insurance Group Company Profile

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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