Zacks Research cut shares of Hamilton Insurance Group (NYSE:HG – Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.
Other equities analysts have also issued reports about the company. Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Citigroup reissued an “outperform” rating on shares of Hamilton Insurance Group in a research report on Friday, May 1st. Weiss Ratings upgraded Hamilton Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. UBS Group set a $33.00 target price on Hamilton Insurance Group in a research report on Thursday, May 21st. Finally, Morgan Stanley lifted their target price on Hamilton Insurance Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.88.
Hamilton Insurance Group Stock 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.56. Hamilton Insurance Group had a net margin of 21.73% and a return on equity of 23.19%. The business had revenue of $758.91 million during the quarter, compared to the consensus estimate of $933.90 million. As a group, equities research analysts predict that Hamilton Insurance Group will post 4.12 EPS for the current fiscal year.
Insider Buying and Selling
In other Hamilton Insurance Group news, CAO Brian John Deegan sold 11,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 71,347 shares of the company’s stock, valued at $2,189,639.43. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the sale, the treasurer owned 39,629 shares in the company, valued at approximately $1,213,043.69. The trade was a 13.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 70,105 shares of company stock valued at $2,220,158. 3.02% of the stock is owned by company insiders.
Institutional Investors Weigh In On Hamilton Insurance Group
Several large investors have recently added to or reduced their stakes in HG. Kestra Advisory Services LLC purchased a new stake in Hamilton Insurance Group during the fourth quarter valued at about $25,000. Chesapeake Asset Management LLC increased its stake in shares of Hamilton Insurance Group by 487.8% in the fourth 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. increased its stake in shares of Hamilton Insurance Group by 112.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,773 shares of the company’s stock worth $49,000 after purchasing an additional 937 shares in the last quarter. KBC Group NV bought a new stake in shares of Hamilton Insurance Group in the first quarter valued at approximately $65,000. Finally, Royal Bank of Canada raised its position in shares of Hamilton Insurance Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 3,012 shares of the company’s stock valued at $84,000 after purchasing an additional 410 shares during the period. Hedge funds and other 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.
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