Hamilton Insurance Group (NYSE:HG) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Hamilton Insurance Group hit a new 52-week high after Citizens JMP raised its price target from $38 to $40 and kept an outperform rating. The stock traded as high as $35.43 and was up about 1.2% on the day.
• Several other analysts have also turned positive, including Keefe, Bruyette & Woods, Wells Fargo, and Citigroup, giving the stock a generally favorable consensus. MarketBeat data shows an average rating of Moderate Buy with an average target price of $35.38.
• The company recently beat earnings expectations, reporting $1.64 EPS versus the $1.08 estimate, though revenue came in below forecasts. Insider selling has continued, with executives selling shares in recent months, while institutional ownership stands at 29.17%.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after Citizens Jmp raised their price target on the stock from $38.00 to $40.00. Citizens Jmp currently has a market outperform rating on the stock. Hamilton Insurance Group traded as high as $35.43 and last traded at $34.9550, with a volume of 64800 shares. The stock had previously closed at $34.60.

HG has been the subject of a number of other reports. Keefe, Bruyette & Woods raised their target price on shares of Hamilton Insurance Group from $34.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Citigroup restated an "outperform" rating on shares of Hamilton Insurance Group in a report on Friday. Wells Fargo & Company increased their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday. Weiss Ratings upgraded Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, June 12th. Finally, Morgan Stanley upped their price target on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $35.38.

Insider Buying and Selling at Hamilton Insurance Group

In other news, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the transaction, the treasurer directly owned 39,629 shares in the company, valued at approximately $1,213,043.69. This trade represents a 13.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Brian John Deegan sold 11,000 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the completion of the transaction, the chief accounting officer directly owned 71,347 shares of the company's stock, valued at approximately $2,189,639.43. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in Hamilton Insurance Group by 15.8% during the fourth 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 last quarter. Parallel Advisors LLC increased its position in shares of Hamilton Insurance Group by 20.0% during the first quarter. Parallel Advisors LLC now owns 4,402 shares of the company's stock worth $131,000 after purchasing an additional 735 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Hamilton Insurance Group during the fourth quarter worth $25,000. CWM LLC lifted its holdings 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 purchasing an additional 919 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Hamilton Insurance Group by 112.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company's stock worth $49,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

Hamilton Insurance Group Trading Up 1.2%

The company has a 50 day moving average of $31.78 and a two-hundred day moving average of $30.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $3.48 billion, a PE ratio of 5.74 and a beta of 0.35.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its quarterly 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. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The company had revenue of $758.91 million during the quarter, compared to analysts' expectations of $933.90 million. Sell-side analysts predict that Hamilton Insurance Group, Ltd. will post 4.12 EPS for the current year.

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.