Zacks Research Upgrades Hamilton Insurance Group (NYSE:HG) to Strong-Buy

Hamilton Insurance Group (NYSE:HG) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

A number of other analysts have also recently commented on HG. Citigroup restated a “neutral” rating on shares of Hamilton Insurance Group in a research report on Wednesday, August 12th. Wall Street Zen lowered Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods lifted their price target on shares of Hamilton Insurance Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Wells Fargo & Company cut their price target on shares of Hamilton Insurance Group from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Finally, Morgan Stanley cut their price target on shares of Hamilton Insurance Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Hamilton Insurance Group Price Performance

Shares of Hamilton Insurance Group stock opened at $35.02 on Thursday. The firm has a market cap of $3.45 billion, a PE ratio of 6.70 and a beta of 0.36. Hamilton Insurance Group has a twelve month low of $22.66 and a twelve month high of $37.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $34.88 and a 200 day moving average price of $32.29.

Hamilton Insurance Group (NYSE:HG) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.87. Hamilton Insurance Group had a return on equity of 24.05% and a net margin of 16.83%. The company had revenue of $828.04 million for the quarter, compared to the consensus estimate of $693.46 million. Sell-side analysts predict that Hamilton Insurance Group will post 4.90 earnings per share for the current fiscal year.

Insider Activity at Hamilton Insurance Group

In other news, Director David A. Brown sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.12, for a total value of $1,806,000.00. Following the transaction, the director owned 400,000 shares in the company, valued at $14,448,000. This trade represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy Duffin sold 28,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $34.53, for a total value of $984,105.00. Following the completion of the transaction, the insider owned 223,459 shares in the company, valued at approximately $7,716,039.27. This trade represents a 11.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.02% of the stock is currently owned by insiders.

Institutional Trading of Hamilton Insurance Group

Several large investors have recently made changes to their positions in HG. Wellington Management Group LLP grew its holdings in shares of Hamilton Insurance Group by 39.4% during the second quarter. Wellington Management Group LLP now owns 5,777,654 shares of the company’s stock worth $196,094,000 after buying an additional 1,633,397 shares in the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of Hamilton Insurance Group in the second quarter worth about $29,884,000. Dimensional Fund Advisors LP lifted its stake in shares of Hamilton Insurance Group by 32.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,351,511 shares of the company’s stock worth $40,312,000 after buying an additional 332,405 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Hamilton Insurance Group by 72.9% in the first quarter. Sei Investments Co. now owns 380,717 shares of the company’s stock worth $11,357,000 after buying an additional 160,575 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Hamilton Insurance Group by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,497,124 shares of the company’s stock worth $44,659,000 after buying an additional 140,474 shares in the last quarter. 29.17% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd. (NYSE: HG) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides underwriting capacity for commercial and specialty risks, serving businesses, insurers and other clients in selected global markets.

Hamilton’s offerings include property and casualty insurance, specialty lines and reinsurance. Its business is conducted through platforms in Bermuda, the United States and the United Kingdom, with products and coverage tailored to complex or niche risks that may require specialized underwriting expertise.

Founded in 2013, Hamilton has developed a multinational operating platform that combines insurance and reinsurance capabilities.