Hamilton Insurance Group (NYSE:HG) Hits New 12-Month High After Analyst Upgrade

Key Points

• Hamilton Insurance Group's shares hit a new 52-week high after Keefe, Bruyette & Woods upgraded their price target from $25.00 to $27.00, now having an outperform rating.
• The company's recent earnings report revealed an EPS of $1.55, significantly exceeding expectations of $1.01, with revenues of $712.03 million.
• Insider activity included CEO Adrian Joseph Daws selling 6,000 shares at $22.00, while Director Therese M. Vaughan purchased 4,750 shares at $21.05, indicating varied insider sentiment.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) hit a new 52-week high during trading on Wednesday after Zacks Research upgraded the stock to a hold rating. The stock traded as high as $23.53 and last traded at $23.31, with a volume of 681307 shares trading hands. The stock had previously closed at $22.67.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Hamilton Insurance Group from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. JMP Securities increased their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Barclays lifted their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. BMO Capital Markets restated a "market perform" rating and issued a $23.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Finally, Wall Street Zen upgraded Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.14.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, Director Therese M. Vaughan bought 4,750 shares of the stock in a transaction on Monday, May 19th. The shares were bought at an average price of $21.05 per share, with a total value of $99,987.50. Following the purchase, the director directly owned 20,892 shares in the company, valued at $439,776.60. This trade represents a 29.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander James Baker sold 6,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $23.79, for a total transaction of $142,740.00. Following the completion of the transaction, the insider directly owned 116,338 shares in the company, valued at approximately $2,767,681.02. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Large investors have recently made changes to their positions in the stock. Amalgamated Bank increased its holdings in shares of Hamilton Insurance Group by 92.2% during the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after buying an additional 685 shares during the last quarter. Sterling Capital Management LLC increased its stake in Hamilton Insurance Group by 295.1% during the fourth quarter. Sterling Capital Management LLC now owns 1,517 shares of the company's stock worth $29,000 after acquiring an additional 1,133 shares during the last quarter. CWM LLC increased its stake in Hamilton Insurance Group by 172.6% during the first quarter. CWM LLC now owns 1,698 shares of the company's stock worth $35,000 after acquiring an additional 1,075 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Hamilton Insurance Group in the first quarter valued at $62,000. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Hamilton Insurance Group by 14.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock valued at $99,000 after purchasing an additional 585 shares during the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Insurance Group Trading Down 4.3%

The business has a fifty day moving average price of $21.45 and a two-hundred day moving average price of $20.30. The company has a current ratio of 0.69, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.37 billion, a PE ratio of 6.45 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.54. The company had revenue of $712.03 million for the quarter, compared to analysts' expectations of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. Analysts expect that Hamilton Insurance Group, Ltd. will post 4.1 EPS for the current fiscal year.

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.