Zacks Research Upgrades Hamilton Insurance Group (NYSE:HG) to "Hold"

Key Points

• Zacks Research has upgraded Hamilton Insurance Group to a "hold" rating, indicating stable performance expectations for the stock.
• The average price target for Hamilton Insurance Group shares is $25.14, with multiple analysts providing ratings from "buy" to "hold" in recent reviews.
• Hamilton Insurance Group reported a net margin of 14.67% and exceeded earnings expectations with an EPS of $1.55 compared to the consensus estimate of $1.01.

Hamilton Insurance Group (NYSE:HG - Get Free Report) was upgraded by investment analysts at Zacks Research to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets reiterated a "market perform" rating and issued a $23.00 price objective on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. Barclays lifted their target price on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Morgan Stanley lifted their target price 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. Wall Street Zen upgraded shares of Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, JMP Securities lifted their price target on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Hamilton Insurance Group has an average rating of "Moderate Buy" and an average price target of $25.14.

Hamilton Insurance Group Stock Up 2.1%

HG stock opened at $24.46 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.69. Hamilton Insurance Group has a one year low of $16.80 and a one year high of $24.54. The company has a fifty day moving average of $21.45 and a 200-day moving average of $20.30. The stock has a market capitalization of $2.48 billion, a PE ratio of 6.76 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 EPS for the quarter, beating 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 firm had revenue of $712.03 million during the quarter, compared to analysts' expectations of $519.50 million. As a group, analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Transactions at Hamilton Insurance Group

In related news, insider Alexander James Baker sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the completion of the sale, the insider directly owned 116,338 shares in the company, valued at approximately $2,767,681.02. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adrian Joseph Daws sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the sale, 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. Insiders own 17.46% of the company's stock.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC grew its holdings in Hamilton Insurance Group by 18.3% in the second quarter. Bridgeway Capital Management LLC now owns 688,049 shares of the company's stock valued at $14,876,000 after purchasing an additional 106,295 shares during the period. Balyasny Asset Management L.P. grew its holdings in Hamilton Insurance Group by 66.8% in the second quarter. Balyasny Asset Management L.P. now owns 609,694 shares of the company's stock valued at $13,182,000 after purchasing an additional 244,262 shares during the period. Soros Fund Management LLC grew its holdings in Hamilton Insurance Group by 20.0% in the second quarter. Soros Fund Management LLC now owns 120,000 shares of the company's stock valued at $2,594,000 after purchasing an additional 20,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in Hamilton Insurance Group by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 26,579 shares of the company's stock valued at $575,000 after buying an additional 2,071 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in Hamilton Insurance Group by 34.8% during the second quarter. Nebula Research & Development LLC now owns 52,810 shares of the company's stock valued at $1,142,000 after buying an additional 13,647 shares in the last quarter. 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.

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