Wells Fargo & Company Forecasts Strong Price Appreciation for Hamilton Insurance Group (NYSE:HG) Stock

Key Points

• Wells Fargo & Company has raised its price target for Hamilton Insurance Group (NYSE:HG) from $26.00 to $29.00, indicating a potential upside of 15.68% from the stock's previous close.
• Despite the optimistic outlook from Wells Fargo, some analysts have recently downgraded Hamilton Insurance Group, with a general sentiment reflected in a consensus rating of "Moderate Buy" and a target price of $26.71.
• Hamilton Insurance Group's stock has shown a performance increase, trading up by 1.3% recently, with its market capitalization at approximately $2.51 billion and notable financial metrics that include a P/E ratio of 6.92 and a net margin of 14.67%.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective raised by stock analysts at Wells Fargo & Company from $26.00 to $29.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 15.68% from the company's previous close.

HG has been the topic of a number of other reports. Wall Street Zen downgraded shares of Hamilton Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. JMP Securities lifted their target price on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Barclays reissued an "overweight" rating and issued a $29.00 target price on shares of Hamilton Insurance Group in a research report on Wednesday. Zacks Research raised shares of Hamilton Insurance Group to a "hold" rating in a research report on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.71.

Hamilton Insurance Group Stock Up 1.3%

Hamilton Insurance Group stock traded up $0.33 during midday trading on Wednesday, hitting $25.07. 36,675 shares of the stock were exchanged, compared to its average volume of 502,076. Hamilton Insurance Group has a 1 year low of $16.80 and a 1 year high of $25.37. The firm has a market cap of $2.51 billion, a P/E ratio of 6.92 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50 day moving average price of $23.66 and a two-hundred day moving average price of $21.54.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, topping 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 13.27%. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. On average, sell-side analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In related news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $24.00, for a total transaction of $455,712.00. Following the completion of the transaction, the insider directly owned 64,512 shares in the company, valued at $1,548,288. This represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander James Baker sold 6,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total transaction of $142,740.00. Following the transaction, the insider owned 116,338 shares of the company's stock, valued at approximately $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,988 shares of company stock worth $1,743,842. 17.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Hamilton Insurance Group by 92.2% in the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after purchasing an additional 685 shares during the last quarter. CWM LLC grew its holdings in shares of Hamilton Insurance Group by 172.6% in the 1st quarter. CWM LLC now owns 1,698 shares of the company's stock worth $35,000 after purchasing an additional 1,075 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Hamilton Insurance Group in the 1st quarter worth about $62,000. Ameritas Investment Partners Inc. grew its holdings in shares of Hamilton Insurance Group by 14.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock worth $99,000 after purchasing an additional 585 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Hamilton Insurance Group in the 1st quarter worth about $112,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.