Hamilton Insurance Group (NYSE:HG) Stock Rating Upgraded by Zacks Research

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 Zacks Research to a "hold" rating in a research report issued on Tuesday, August 12th,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Barclays lifted their price objective on shares of Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley lifted their price target 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. Keefe, Bruyette & Woods increased their price objective on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Wells Fargo & Company raised their target price on Hamilton Insurance Group from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Citigroup initiated coverage on Hamilton Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $25.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.43.

Hamilton Insurance Group Stock Performance

Shares of Hamilton Insurance Group stock traded up $0.37 during trading hours on Tuesday, hitting $23.57. 247,567 shares of the company's stock traded hands, compared to its average volume of 516,328. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.51 and a beta of 0.81. Hamilton Insurance Group has a 12-month low of $16.80 and a 12-month high of $24.54. 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 fifty day simple moving average of $21.57 and a 200-day simple moving average of $20.39.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.54. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a net margin of 14.67% and a return on equity of 13.27%. Equities research 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 Alexander James Baker sold 6,000 shares of Hamilton Insurance Group stock in a transaction 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 transaction, the insider owned 116,338 shares in the company, valued at $2,767,681.02. This trade represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $24.00, for a total transaction of $455,712.00. Following the completion of the sale, the insider directly owned 64,512 shares of the company's stock, valued at $1,548,288. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,988 shares of company stock valued at $730,452. Insiders own 17.46% of the company's stock.

Hedge Funds Weigh In On Hamilton Insurance Group

Large investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in shares of Hamilton Insurance Group during the first quarter valued at approximately $50,838,000. Wellington Management Group LLP grew its position in shares of Hamilton Insurance Group by 26.1% in the 1st quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company's stock worth $96,570,000 after buying an additional 963,021 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of Hamilton Insurance Group during the second quarter valued at approximately $14,272,000. Bridgeway Capital Management LLC raised its holdings in shares of Hamilton Insurance Group by 398.9% during the first quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company's stock valued at $12,060,000 after acquiring an additional 465,152 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Hamilton Insurance Group by 279.5% in the first quarter. Victory Capital Management Inc. now owns 471,128 shares of the company's stock valued at $9,766,000 after acquiring an additional 346,998 shares in the last quarter. 29.17% of the stock is owned by hedge funds and other institutional investors.

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.