Keefe, Bruyette & Woods Issues Positive Forecast for Hamilton Insurance Group (NYSE:HG) Stock Price

Key Points

• Keefe, Bruyette & Woods has raised its target price for Hamilton Insurance Group from $25.00 to $27.00, indicating a potential upside of 15.71% from the stock's previous close.
• Various analysts have rated Hamilton Insurance Group with an average rating of "Moderate Buy" and an average target price of $25.17.
• The company reported earnings of $1.55 per share for the recent quarter, significantly exceeding the consensus estimate of $1.01.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $25.00 to $27.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 15.71% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Citigroup restated an "outperform" rating on shares of Hamilton Insurance Group in a research note on Thursday. Wells Fargo & Company upped their price target 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. JMP Securities increased their price objective 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 increased their price objective on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.17.

Hamilton Insurance Group Stock Performance

NYSE HG traded up $0.67 on Tuesday, hitting $23.34. 122,884 shares of the stock were exchanged, compared to its average volume of 508,680. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.71 and a quick ratio of 0.71. The business's fifty day moving average is $21.32 and its 200 day moving average is $20.22. Hamilton Insurance Group has a 52 week low of $16.80 and a 52 week high of $23.37. The company has a market capitalization of $2.37 billion, a PE ratio of 6.44 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.62%. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. Research analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Adrian Joseph Daws sold 6,000 shares of the firm's 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 sale, the chief executive officer directly owned 190,440 shares in the company, valued at approximately $4,189,680. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Therese M. Vaughan acquired 4,750 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $21.05 per share, with a total value of $99,987.50. Following the acquisition, the director owned 20,892 shares in the company, valued at $439,776.60. The trade was a 29.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 17.46% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HG. Nuveen LLC bought a new stake in shares of Hamilton Insurance Group in the 1st quarter valued at $50,838,000. Wellington Management Group LLP increased its stake in shares of Hamilton Insurance Group by 26.1% in the 1st 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 increased its stake in shares of Hamilton Insurance Group by 398.9% in the 1st 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. increased its stake in shares of Hamilton Insurance Group by 279.5% in the 1st 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. increased its stake in shares of Hamilton Insurance Group by 60.4% in the 1st 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. Institutional investors own 29.17% of the company's stock.

About Hamilton Insurance Group

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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