Hamilton Insurance Group (NYSE:HG – Get Free Report) had its price objective hoisted by investment analysts at Morgan Stanley from $31.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 3.25% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Hamilton Insurance Group from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Hamilton Insurance Group in a research note on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on Hamilton Insurance Group from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered shares of Hamilton Insurance Group from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.
Check Out Our Latest Research Report on Hamilton Insurance Group
Hamilton Insurance Group Price Performance
Hamilton Insurance Group (NYSE:HG – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.56. The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. As a group, equities research analysts forecast that Hamilton Insurance Group will post 3.95 EPS for the current fiscal year.
Insiders Place Their Bets
In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of Hamilton Insurance Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total value of $1,199,568.00. Following the sale, the director owned 450,000 shares of the company’s stock, valued at approximately $14,472,000. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian John Deegan sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $30.69, for a total value of $337,590.00. Following the transaction, the chief accounting officer owned 71,347 shares in the company, valued at $2,189,639.43. The trade was a 13.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 70,105 shares of company stock worth $2,220,158. 3.02% of the stock is owned by insiders.
Institutional Trading of Hamilton Insurance Group
A number of institutional investors have recently modified their holdings of HG. Kestra Advisory Services LLC acquired a new position in Hamilton Insurance Group during the fourth quarter worth $25,000. Chesapeake Asset Management LLC boosted its position in shares of Hamilton Insurance Group by 487.8% during the 4th quarter. Chesapeake Asset Management LLC now owns 1,205 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Hamilton Insurance Group by 112.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares during the period. KBC Group NV purchased a new position in shares of Hamilton Insurance Group in the 1st quarter valued at about $65,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Hamilton Insurance Group in the third quarter valued at about $71,000. 29.17% of the stock is currently owned by hedge funds and other institutional investors.
About Hamilton Insurance Group
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.
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