Citigroup Boosts Hamilton Insurance Group (NYSE:HG) Price Target to $33.00

Hamilton Insurance Group (NYSE:HG) had its price objective hoisted by investment analysts at Citigroup from $28.50 to $33.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 8.70% from the company’s current price.

HG has been the topic of several other reports. Wall Street Zen upgraded shares of Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Morgan Stanley set a $28.00 target price on shares of Hamilton Insurance Group in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Citizens Jmp lifted their price objective on Hamilton Insurance Group from $32.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.29.

Hamilton Insurance Group Trading Down 2.0%

HG traded down $0.61 during mid-day trading on Tuesday, reaching $30.36. The stock had a trading volume of 228,833 shares, compared to its average volume of 592,613. The stock has a market capitalization of $2.99 billion, a P/E ratio of 5.45 and a beta of 0.70. Hamilton Insurance Group has a 52 week low of $16.80 and a 52 week high of $31.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66. The firm’s fifty day simple moving average is $28.19 and its two-hundred day simple moving average is $26.05.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, February 19th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. The business had revenue of $728.33 million for the quarter, compared to analyst estimates of $621.00 million. Hamilton Insurance Group had a return on equity of 19.84% and a net margin of 19.85%. On average, equities analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Institutional Investors Weigh In On Hamilton Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of Hamilton Insurance Group by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,297,484 shares of the company’s stock valued at $131,378,000 after buying an additional 737,084 shares during the last quarter. Nuveen LLC lifted its stake in Hamilton Insurance Group by 3.5% in the fourth quarter. Nuveen LLC now owns 2,220,738 shares of the company’s stock valued at $61,959,000 after acquiring an additional 74,194 shares during the last quarter. American Century Companies Inc. grew its position in shares of Hamilton Insurance Group by 15.7% in the 2nd quarter. American Century Companies Inc. now owns 2,214,591 shares of the company’s stock valued at $47,879,000 after acquiring an additional 301,334 shares during the period. Donald Smith & CO. Inc. raised its holdings in shares of Hamilton Insurance Group by 71.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,552,870 shares of the company’s stock valued at $43,325,000 after purchasing an additional 646,106 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Hamilton Insurance Group by 1.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,373,491 shares of the company’s stock worth $34,063,000 after purchasing an additional 15,615 shares during the period. 29.17% of the stock is currently owned by institutional investors and hedge funds.

About Hamilton Insurance Group

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.