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

Key Points

• Hamilton Insurance Group was upgraded by Wall Street Zen from a "hold" to a "buy" rating, reflecting increasing confidence in the company's stock performance.
• Wells Fargo & Company raised their price target for the stock from $26.00 to $29.00, while other analysts also adjusted their price targets, with an average consensus of $26.71.
• In recent trading, Hamilton Insurance Group shares opened at $23.84 and have shown significant growth potential with a reported Earnings Per Share (EPS) of $1.55 for the last quarter, surpassing expectations.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company boosted their price objective on Hamilton Insurance Group from $26.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citigroup initiated coverage on Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price objective for the company. JMP Securities boosted their price objective on Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Barclays upped their price target on Hamilton Insurance Group from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price target on Hamilton Insurance Group from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.71.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock opened at $23.84 on Friday. Hamilton Insurance Group has a one year low of $16.80 and a one year high of $25.37. The company has a market cap of $2.39 billion, a PE ratio of 6.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69. The business has a 50-day simple moving average of $23.84 and a 200-day simple moving average of $21.60.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%.The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $519.50 million. On average, equities research analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In other Hamilton Insurance Group news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $24.00, for a total value of $455,712.00. Following the completion of the sale, the insider owned 64,512 shares in the company, valued at approximately $1,548,288. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander James Baker sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the sale, the insider owned 116,338 shares of the company's stock, valued at approximately $2,767,681.02. This represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,988 shares of company stock valued at $1,743,842 over the last three months. 17.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its stake in Hamilton Insurance Group by 0.6% in the first quarter. Deutsche Bank AG now owns 100,206 shares of the company's stock valued at $2,077,000 after buying an additional 555 shares during the last quarter. Rhumbline Advisers lifted its stake in Hamilton Insurance Group by 1.0% in the first quarter. Rhumbline Advisers now owns 57,764 shares of the company's stock valued at $1,197,000 after buying an additional 557 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock valued at $99,000 after buying an additional 585 shares during the last quarter. Corebridge Financial Inc. lifted its stake in Hamilton Insurance Group by 3.1% in the first quarter. Corebridge Financial Inc. now owns 20,297 shares of the company's stock valued at $421,000 after buying an additional 616 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Hamilton Insurance Group by 92.2% in the first quarter. Amalgamated Bank now owns 1,428 shares of the company's stock valued at $30,000 after buying an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 29.17% of the company's stock.

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.

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