Hamilton Insurance Group, Ltd. (NYSE:HG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Hamilton Insurance Group, Ltd. (NYSE:HG) have earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.7143.

Several equities research analysts recently issued reports on the company. JMP Securities upped their price target on Hamilton Insurance Group from $27.00 to $29.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Barclays increased their target price on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Citigroup assumed coverage on Hamilton Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $25.00 target price on the stock. Morgan Stanley increased their target price on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Saturday, September 27th.

Hamilton Insurance Group Stock Performance

HG stock opened at $24.69 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.47 billion, a P/E ratio of 6.82 and a beta of 0.82. Hamilton Insurance Group has a 12-month low of $16.80 and a 12-month high of $25.37. The stock’s 50 day simple moving average is $23.66 and its 200 day simple moving average is $21.54.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.54. The business had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. As a group, equities research analysts predict that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the firm’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 transaction, the insider directly owned 64,512 shares of the company’s stock, valued at approximately $1,548,288. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Donald Bernhard sold 47,000 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $24.37, for a total value of $1,145,390.00. Following the transaction, the insider directly owned 53,893 shares in the company, valued at $1,313,372.41. This trade represents a 46.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,988 shares of company stock valued at $1,743,842 over the last three months. Company insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Amalgamated Bank increased its holdings in shares of Hamilton Insurance Group by 92.2% during the first quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock valued at $30,000 after purchasing an additional 685 shares during the period. CWM LLC increased its holdings in shares of Hamilton Insurance Group by 172.6% during the first quarter. CWM LLC now owns 1,698 shares of the company’s stock valued at $35,000 after purchasing an additional 1,075 shares during the period. Flaharty Asset Management LLC acquired a new position in Hamilton Insurance Group during the first quarter worth about $62,000. Ameritas Investment Partners Inc. grew its holdings in Hamilton Insurance Group by 14.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after acquiring an additional 585 shares during the period. Finally, Strs Ohio acquired a new position in Hamilton Insurance Group during the first quarter worth about $112,000. 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.