Wells Fargo & Company Boosts Hamilton Insurance Group (NYSE:HG) Price Target to $26.00

Key Points

• Wells Fargo & Company has raised its price target for Hamilton Insurance Group from $24.00 to $26.00, indicating a potential upside of 16.12% based on the company's previous closing price.
• Other analysts have also increased their price targets for Hamilton Insurance Group, with Barclays setting it at $25.00 and JMP Securities at $29.00, reflecting a positive outlook for the stock.
• Insider activity includes Director Therese M. Vaughan purchasing 4,750 shares, indicating confidence in the company's future performance, while CEO Adrian Joseph Daws sold 6,000 shares, evidencing mixed insider sentiment.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its target price upped by stock analysts at Wells Fargo & Company from $24.00 to $26.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 16.12% from the company's previous close.

A number of other equities analysts have also weighed in on HG. Barclays boosted their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. BMO Capital Markets reissued a "market perform" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Morgan Stanley raised their price objective on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. JMP Securities boosted their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a report on Thursday. Finally, Citigroup reissued an "outperform" rating on shares of Hamilton Insurance Group in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.83.

Hamilton Insurance Group Stock Up 0.4%

HG stock traded up $0.10 during trading on Friday, reaching $22.39. 32,099 shares of the company traded hands, compared to its average volume of 510,903. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 6.20 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50 day simple moving average of $21.30 and a 200 day simple moving average of $20.17. Hamilton Insurance Group has a 12 month low of $16.63 and a 12 month high of $23.03.

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

Insider Activity at Hamilton Insurance Group

In other news, Director Therese M. Vaughan bought 4,750 shares of Hamilton Insurance Group stock in a transaction dated Monday, May 19th. The stock was bought at an average price of $21.05 per share, for a total transaction of $99,987.50. Following the purchase, the director owned 20,892 shares of the company's stock, valued at approximately $439,776.60. The trade was a 29.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adrian Joseph Daws sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $22.00, for a total transaction of $132,000.00. Following the transaction, the chief executive officer owned 190,440 shares in the company, valued at approximately $4,189,680. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.46% of the company's stock.

Institutional Investors Weigh In On Hamilton Insurance Group

Institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in Hamilton Insurance Group by 0.6% during the first quarter. Deutsche Bank AG now owns 100,206 shares of the company's stock worth $2,077,000 after purchasing an additional 555 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Hamilton Insurance Group by 1.0% in the 1st quarter. Rhumbline Advisers now owns 57,764 shares of the company's stock worth $1,197,000 after buying an additional 557 shares in the last quarter. Corebridge Financial Inc. grew its stake in Hamilton Insurance Group by 3.1% in the 1st quarter. Corebridge Financial Inc. now owns 20,297 shares of the company's stock valued at $421,000 after acquiring an additional 616 shares during the last quarter. Voya Investment Management LLC grew its stake in Hamilton Insurance Group by 3.2% in the 4th quarter. Voya Investment Management LLC now owns 21,675 shares of the company's stock valued at $412,000 after acquiring an additional 679 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Hamilton Insurance Group by 92.2% during the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock valued at $30,000 after acquiring an additional 685 shares in 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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