Keefe, Bruyette & Woods Raises Hamilton Insurance Group (NYSE:HG) Price Target to $40.00

Hamilton Insurance Group (NYSE:HG) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $39.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.52% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. UBS Group set a $33.00 price objective on shares of Hamilton Insurance Group in a research report on Thursday, May 21st. Morgan Stanley upped their target price on shares of Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Citigroup reissued a “neutral” rating on shares of Hamilton Insurance Group in a research note on Wednesday. Citizens Jmp boosted 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, Zacks Research cut Hamilton Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.75.

Hamilton Insurance Group Stock Up 1.0%

Shares of NYSE HG traded up $0.34 during mid-day trading on Wednesday, reaching $35.55. 227,944 shares of the company’s stock were exchanged, compared to its average volume of 507,927. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 6.19 and a beta of 0.33. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $33.71 and a 200 day simple moving average of $31.46. Hamilton Insurance Group has a twelve month low of $22.66 and a twelve month high of $37.31.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $1.56 earnings per share (EPS) for the quarter. Hamilton Insurance Group had a return on equity of 22.78% and a net margin of 19.56%.The business had revenue of $839.58 million during the quarter. As a group, equities analysts expect that Hamilton Insurance Group will post 4.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David A. Brown sold 37,300 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.16, for a total value of $1,199,568.00. Following the completion of the transaction, the director owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of large investors have recently modified their holdings of the business. Donald Smith & CO. Inc. bought a new position in shares of Hamilton Insurance Group in the 2nd quarter valued at about $29,884,000. Great Lakes Advisors LLC bought a new stake in Hamilton Insurance Group during the second quarter worth about $1,990,000. Handelsbanken Fonder AB acquired a new position in Hamilton Insurance Group during the second quarter valued at approximately $244,000. Cim LLC boosted its position in Hamilton Insurance Group by 78.9% during the first quarter. Cim LLC now owns 21,262 shares of the company’s stock valued at $634,000 after purchasing an additional 9,374 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Hamilton Insurance Group by 38.0% in the first quarter. California State Teachers Retirement System now owns 59,732 shares of the company’s stock valued at $1,782,000 after purchasing an additional 16,437 shares in the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Insurance Group Company Profile

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.