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

Key Points

• Hamilton Insurance Group was upgraded by Wall Street Zen from “hold” to “buy”, adding to a generally positive analyst backdrop. Other firms have also recently raised price targets, and the stock now carries an average Moderate Buy rating with a $34.00 target price.
• The company reported strong quarterly earnings, posting $1.64 EPS versus the $1.08 consensus estimate, though revenue came in below expectations at $758.91 million. Analysts still expect full-year EPS of about 4.1.
• Shares were slightly down 0.2% to $31.86, near the stock’s 52-week high of $33.72. Insider selling has also been notable, with executives and directors selling shares worth more than $2.2 million over the last three months.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was upgraded by analysts at 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 research firms also recently weighed in on HG. Wells Fargo & Company increased their target price on shares of Hamilton Insurance Group from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Barclays increased their target price on shares of Hamilton Insurance Group from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Monday, February 23rd. UBS Group set a $33.00 target price on shares of Hamilton Insurance Group in a research report on Thursday, May 21st. Finally, Citizens Jmp upped their price target on shares of Hamilton Insurance Group from $36.00 to $38.00 and gave the company a "market outperform" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Hamilton Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $34.00.

Hamilton Insurance Group Stock Down 0.2%

Shares of NYSE:HG opened at $31.86 on Friday. The firm has a market cap of $3.16 billion, a P/E ratio of 5.21 and a beta of 0.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. Hamilton Insurance Group has a 12-month low of $20.44 and a 12-month high of $33.72. The business has a fifty day simple moving average of $31.14 and a 200 day simple moving average of $29.38.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In related news, CAO Brian John Deegan sold 11,000 shares of the business'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 completion of the sale, the chief accounting officer directly owned 71,347 shares of the company's stock, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Brown sold 37,300 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the sale, the director directly owned 450,000 shares of the company's stock, valued at $14,472,000. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Hamilton Insurance Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company's stock worth $131,378,000 after purchasing an additional 737,084 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Hamilton Insurance Group by 71.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company's stock worth $43,325,000 after purchasing an additional 646,106 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Hamilton Insurance Group in the fourth quarter worth approximately $16,667,000. Millennium Management LLC raised its stake in shares of Hamilton Insurance Group by 89.8% in the fourth quarter. Millennium Management LLC now owns 881,667 shares of the company's stock worth $24,599,000 after purchasing an additional 417,261 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Hamilton Insurance Group by 101.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company's stock worth $17,490,000 after acquiring an additional 355,947 shares in the last quarter. Institutional investors and hedge funds 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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