Morgan Stanley Lowers Hamilton Insurance Group (NYSE:HG) Price Target to $20.00

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $21.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 51.63% from the stock's current price.

Several other analysts have also recently commented on the stock. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of Hamilton Insurance Group in a research note on Monday. Wells Fargo & Company upgraded shares of Hamilton Insurance Group from an "equal weight" rating to an "overweight" rating and set a $16.00 target price on the stock in a report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $19.00.

Hamilton Insurance Group Price Performance

Shares of NYSE HG traded up $0.21 during trading on Monday, hitting $13.19. The company had a trading volume of 375,297 shares, compared to its average volume of 264,661. The firm has a 50-day moving average of $13.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. Hamilton Insurance Group has a 52 week low of $12.44 and a 52 week high of $16.35.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.58. The business had revenue of $495.16 million during the quarter, compared to the consensus estimate of $412.55 million. On average, research analysts forecast that Hamilton Insurance Group will post 2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hamilton Insurance Group

Several large investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Hamilton Insurance Group during the fourth quarter valued at about $33,630,000. Wellington Management Group LLP bought a new position in Hamilton Insurance Group in the fourth quarter valued at $19,249,000. Nuveen Asset Management LLC purchased a new stake in Hamilton Insurance Group during the fourth quarter valued at about $18,556,000. Balyasny Asset Management L.P. purchased a new stake in shares of Hamilton Insurance Group during the fourth quarter worth about $12,527,000. Finally, Penn Capital Management Company LLC purchased a new stake in Hamilton Insurance Group in the fourth quarter worth about $9,352,000. 29.17% of the stock is currently owned by institutional investors and hedge funds.

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.