Hamilton Insurance Group (NYSE:HG) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Hamilton Insurance Group (NYSE:HG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts have also issued reports on the stock. Zacks Research upgraded shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. JMP Securities set a $32.00 target price on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Morgan Stanley set a $28.00 target price on shares of Hamilton Insurance Group in a report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Wednesday, October 8th. Finally, Barclays upped their price target on Hamilton Insurance Group from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Hamilton Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $28.75.

Hamilton Insurance Group Trading Up 0.3%

HG opened at $28.34 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05. Hamilton Insurance Group has a 52 week low of $16.80 and a 52 week high of $28.70. The stock has a market cap of $2.79 billion, a PE ratio of 6.75 and a beta of 0.69. The business has a 50 day moving average of $26.00 and a 200-day moving average of $23.84.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.61. The company had revenue of $667.65 million for the quarter, compared to analysts’ expectations of $537.70 million. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%. Equities research analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Alexander James Baker sold 18,350 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $26.19, for a total value of $480,586.50. Following the completion of the transaction, the chief executive officer directly owned 84,136 shares in the company, valued at $2,203,521.84. The trade was a 17.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in Hamilton Insurance Group by 1,404.4% in the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock worth $42,000 after purchasing an additional 1,587 shares during the last quarter. Flaharty Asset Management LLC bought a new position in shares of Hamilton Insurance Group during the 1st quarter valued at $62,000. State of Alaska Department of Revenue purchased a new position in shares of Hamilton Insurance Group in the 3rd quarter worth $71,000. CWM LLC grew its holdings in shares of Hamilton Insurance Group by 167.7% in the second quarter. CWM LLC now owns 4,545 shares of the company’s stock worth $98,000 after acquiring an additional 2,847 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position 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 valued at $99,000 after acquiring an additional 585 shares during the last quarter. Institutional investors own 29.17% of the company’s stock.

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.