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 raised by Wells Fargo & Company from $24.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 11.53% from the company's current price.

Other equities research analysts also recently issued research reports about the company. JMP Securities raised their price objective on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Morgan Stanley raised their price objective on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Citigroup reaffirmed an "outperform" rating on shares of Hamilton Insurance Group in a research report on Thursday, August 7th. BMO Capital Markets reaffirmed a "market perform" rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, June 5th. Finally, Barclays raised their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.17.

Hamilton Insurance Group Trading Up 2.8%

Shares of NYSE HG traded up $0.64 during trading hours on Friday, hitting $23.31. 681,307 shares of the company traded hands, compared to its average volume of 512,354. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6.44 and a beta of 0.81. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06. The company's 50 day moving average price is $21.32 and its 200 day moving average price is $20.22. Hamilton Insurance Group has a 12 month low of $16.80 and a 12 month high of $23.53.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate 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

In other news, Director Therese M. Vaughan acquired 4,750 shares of Hamilton Insurance Group stock in a transaction dated Monday, May 19th. The stock was purchased at an average cost of $21.05 per share, for a total transaction of $99,987.50. Following the completion of the purchase, the director directly owned 20,892 shares in the company, valued at $439,776.60. This trade represents a 29.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adrian Joseph Daws sold 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the transaction, the chief executive officer owned 190,440 shares of the company's stock, valued at approximately $4,189,680. The trade was 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 Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its holdings in Hamilton Insurance Group by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock valued at $99,000 after purchasing an additional 585 shares during the period. American Century Companies Inc. grew its holdings in Hamilton Insurance Group by 15.7% in the second quarter. American Century Companies Inc. now owns 2,214,591 shares of the company's stock valued at $47,879,000 after purchasing an additional 301,334 shares during the period. Private Management Group Inc. grew its holdings in Hamilton Insurance Group by 0.6% in the second quarter. Private Management Group Inc. now owns 891,164 shares of the company's stock valued at $19,267,000 after purchasing an additional 5,168 shares during the period. Rhumbline Advisers grew its holdings in Hamilton Insurance Group by 18.6% in the second quarter. Rhumbline Advisers now owns 68,492 shares of the company's stock valued at $1,481,000 after purchasing an additional 10,728 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Hamilton Insurance Group by 3.5% in the second quarter. Franklin Resources Inc. now owns 117,105 shares of the company's stock valued at $2,532,000 after purchasing an additional 3,996 shares during the period. 29.17% of the stock is currently owned by hedge funds and other 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.