Hamilton Insurance Group (NYSE:HG) Rating Increased to Buy at Wall Street Zen

Key Points

• Hamilton Insurance Group was upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased investor confidence in the company's prospects.
• Analysts have generally raised their price targets for Hamilton Insurance Group, with Wells Fargo boosting it from $24.00 to $26.00 and JMP Securities from $27.00 to $29.00.
• Hamilton Insurance Group reported strong quarterly earnings with an EPS of $1.55, exceeding expectations by $0.54 and achieving revenues of $712.03 million against anticipated figures of $519.50 million.

Wall Street Zen upgraded shares of Hamilton Insurance Group (NYSE:HG - Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

HG has been the topic of several other research reports. Morgan Stanley upped their price objective on Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. JMP Securities increased their price objective on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their target price on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup reaffirmed an "outperform" rating on shares of Hamilton Insurance Group in a research note on Thursday, August 7th. Finally, Barclays increased their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.17.

Hamilton Insurance Group Stock Up 2.8%

Shares of HG stock traded up $0.64 during trading hours on Friday, reaching $23.31. 567,271 shares of the company's stock were exchanged, compared to its average volume of 510,884. The stock's fifty day moving average price is $21.32 and its two-hundred day moving average price is $20.22. The stock has a market cap of $2.37 billion, a PE ratio of 6.44 and a beta of 0.81. Hamilton Insurance Group has a 1 year low of $16.80 and a 1 year high of $23.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued 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 firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a return on equity of 13.62% and a net margin of 14.67%. Research analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Activity at Hamilton Insurance Group

In related news, Director Therese M. Vaughan bought 4,750 shares of the company's stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $21.05 per share, with a total value of $99,987.50. Following the completion of the acquisition, the director owned 20,892 shares in the company, valued at approximately $439,776.60. This trade represents a 29.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adrian Joseph Daws sold 6,000 shares of Hamilton Insurance Group stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the sale, the chief executive officer owned 190,440 shares in the company, valued at approximately $4,189,680. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.46% of the company's stock.

Institutional Trading of Hamilton Insurance Group

A number of institutional investors have recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Hamilton Insurance Group in the first quarter valued at $50,838,000. Wellington Management Group LLP lifted its position in shares of Hamilton Insurance Group by 26.1% in the first quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company's stock valued at $96,570,000 after acquiring an additional 963,021 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Hamilton Insurance Group by 398.9% in the first quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company's stock valued at $12,060,000 after acquiring an additional 465,152 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Hamilton Insurance Group by 279.5% in the first quarter. Victory Capital Management Inc. now owns 471,128 shares of the company's stock valued at $9,766,000 after acquiring an additional 346,998 shares in the last quarter. Finally, Private Management Group Inc. lifted its position in shares of Hamilton Insurance Group by 60.4% in the first quarter. Private Management Group Inc. now owns 885,996 shares of the company's stock valued at $18,367,000 after acquiring an additional 333,671 shares in the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

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.