Weiss Ratings Reiterates "Buy (B)" Rating for Hamilton Insurance Group (NYSE:HG)

Key Points

• Weiss Ratings has restated a "Buy (B)" rating for Hamilton Insurance Group (NYSE:HG), indicating strong confidence in the company's performance.
• The stock currently holds an average target price of $26.71 and has received a mix of ratings, with five analysts recommending a buy and four issuing a hold.
• Hamilton Insurance Group reported a significant earnings surprise, posting $1.55 EPS, exceeding expectations of $1.01 EPS for the latest quarter.

Hamilton Insurance Group (NYSE:HG - Get Free Report)'s stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

HG has been the topic of a number of other research reports. Zacks Research upgraded Hamilton Insurance Group to a "hold" rating in a report on Tuesday, August 12th. Keefe, Bruyette & Woods boosted 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. Citigroup started coverage on Hamilton Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price target on the stock. JMP Securities boosted their price target on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, Morgan Stanley boosted their price target on Hamilton Insurance Group from $23.00 to $25.00 and gave the company an "equal weight" rating in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.71.

Hamilton Insurance Group Trading Down 0.4%

Shares of HG stock opened at $24.64 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $23.73 and a two-hundred day moving average price of $21.56. Hamilton Insurance Group has a 12-month low of $16.80 and a 12-month high of $25.37. The firm has a market cap of $2.47 billion, a P/E ratio of 6.81 and a beta of 0.82.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.54. The firm had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. Equities analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In related news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the company'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 transaction, the insider directly owned 64,512 shares of the company's stock, valued at approximately $1,548,288. This represents a 22.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Keith Donald Bernhard sold 47,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $24.37, for a total value of $1,145,390.00. Following the completion of the transaction, the insider directly owned 53,893 shares in the company, valued at $1,313,372.41. This trade represents a 46.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,988 shares of company stock valued at $1,743,842. 17.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC bought a new position in shares of Hamilton Insurance Group during the 2nd quarter valued at $230,000. Nomura Holdings Inc. bought a new position in Hamilton Insurance Group in the 2nd quarter worth $327,000. Tower Research Capital LLC TRC raised its holdings in Hamilton Insurance Group by 24.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,667 shares of the company's stock worth $123,000 after purchasing an additional 1,101 shares during the period. Man Group plc raised its holdings in Hamilton Insurance Group by 207.5% in the 2nd quarter. Man Group plc now owns 106,979 shares of the company's stock worth $2,313,000 after purchasing an additional 72,189 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in Hamilton Insurance Group by 48.3% in the 2nd quarter. Engineers Gate Manager LP now owns 135,679 shares of the company's stock worth $2,933,000 after purchasing an additional 44,165 shares during the period. 29.17% of the stock is owned by 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.

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