Hamilton Insurance Group (NYSE:HG) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Hamilton Insurance Group (NYSE:HG) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks reports.

Several other research firms have also commented on HG. Barclays upped their target price on Hamilton Insurance Group from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Morgan Stanley decreased their price target on Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings raised Hamilton Insurance Group from a “buy (b+)” rating to a “buy (a)” rating in a research note on Wednesday, October 21st. Citizens Jmp lifted their price target on Hamilton Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Hamilton Insurance Group Price Performance

HG stock opened at $35.02 on Thursday. Hamilton Insurance Group has a 1 year low of $22.66 and a 1 year high of $37.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50 day moving average price is $34.88 and its 200 day moving average price is $32.29. The firm has a market cap of $3.45 billion, a P/E ratio of 6.70 and a beta of 0.36.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.87. Hamilton Insurance Group had a net margin of 16.83% and a return on equity of 24.05%. The company had revenue of $828.04 million for the quarter, compared to analysts’ expectations of $693.46 million. On average, sell-side analysts expect that Hamilton Insurance Group will post 4.90 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Timothy Duffin sold 28,500 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $34.53, for a total transaction of $984,105.00. Following the completion of the sale, the insider directly owned 223,459 shares in the company, valued at $7,716,039.27. This represents a 11.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Brown sold 50,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the completion of the transaction, the director directly owned 400,000 shares in the company, valued at $14,448,000. This trade represents a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of institutional investors have recently added to or reduced their stakes in HG. Wellington Management Group LLP grew its holdings in shares of Hamilton Insurance Group by 39.4% during the 2nd quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock worth $196,094,000 after purchasing an additional 1,633,397 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Hamilton Insurance Group by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock valued at $44,659,000 after buying an additional 140,474 shares during the period. Dimensional Fund Advisors LP raised its holdings in Hamilton Insurance Group by 32.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock valued at $40,312,000 after buying an additional 332,405 shares during the period. Lazard Asset Management LLC lifted its position in Hamilton Insurance Group by 9.5% during the first quarter. Lazard Asset Management LLC now owns 1,049,590 shares of the company’s stock valued at $31,309,000 after buying an additional 90,655 shares in the last quarter. Finally, Donald Smith & CO. Inc. acquired a new position in Hamilton Insurance Group during the second quarter valued at approximately $29,884,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.