Morgan Stanley Boosts Hamilton Insurance Group (NYSE:HG) Price Target to $21.00

Hamilton Insurance Group (NYSE:HG) had its price target upped by equities researchers at Morgan Stanley from $20.00 to $21.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 0.74% from the company’s previous close.

HG has been the topic of a number of other reports. Wells Fargo & Company reduced their price objective on shares of Hamilton Insurance Group from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays increased 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. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $23.00 price objective on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Hamilton Insurance Group Stock Up 1.5%

Shares of HG stock traded up $0.32 on Monday, hitting $20.85. The stock had a trading volume of 52,502 shares, compared to its average volume of 541,037. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 6.88 and a beta of 0.82. The stock’s 50 day moving average is $21.00 and its 200-day moving average is $19.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.71 and a current ratio of 0.71. Hamilton Insurance Group has a 52-week low of $15.31 and a 52-week high of $22.33.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.43. Hamilton Insurance Group had a net margin of 13.28% and a return on equity of 12.41%. The firm had revenue of $843.31 million for the quarter, compared to the consensus estimate of $498.00 million. As a group, research analysts expect that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insiders Place Their Bets

In other Hamilton Insurance Group news, Director Therese M. Vaughan bought 4,750 shares of the company’s stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $21.05 per share, with a total value of $99,987.50. Following the completion of the acquisition, the director owned 20,892 shares of the company’s stock, valued at approximately $439,776.60. This trade represents a 29.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adrian Joseph Daws sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $22.00, for a total transaction of $132,000.00. Following the sale, the chief executive officer directly owned 190,440 shares in the company, valued at $4,189,680. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Hamilton Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings 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 acquiring an additional 963,021 shares during the period. Nuveen LLC acquired a new stake in shares of Hamilton Insurance Group in the 1st quarter worth about $50,838,000. Private Management Group Inc. increased its holdings in shares of Hamilton Insurance Group by 60.4% in the 1st quarter. Private Management Group Inc. now owns 885,996 shares of the company’s stock worth $18,367,000 after acquiring an additional 333,671 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Hamilton Insurance Group by 19.7% in the 4th quarter. Lazard Asset Management LLC now owns 811,166 shares of the company’s stock worth $15,435,000 after acquiring an additional 133,646 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Hamilton Insurance Group by 31.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 642,260 shares of the company’s stock worth $12,222,000 after acquiring an additional 155,228 shares during the period. 29.17% of the stock is owned by institutional investors and hedge funds.

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.