Hamilton Insurance Group (NYSE:HG) Price Target Raised to $31.00

Hamilton Insurance Group (NYSE:HG) had its target price raised by Wells Fargo & Company from $29.00 to $31.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on HG. Citigroup restated an “outperform” rating on shares of Hamilton Insurance Group in a research report on Wednesday. Citizens Jmp lifted their price target on shares of Hamilton Insurance Group from $31.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Morgan Stanley raised their price objective on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Zacks Research upgraded shares of Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $26.01 on Thursday. The firm’s 50-day moving average is $24.30 and its 200-day moving average is $22.34. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 6.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.69 and a current ratio of 0.66. Hamilton Insurance Group has a 52-week low of $16.80 and a 52-week high of $26.43.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.61. Hamilton Insurance Group had a return on equity of 15.07% and a net margin of 15.95%.The business had revenue of $698.85 million for the quarter, compared to the consensus estimate of $537.70 million. Equities research analysts anticipate that Hamilton Insurance Group will post 4.1 earnings per share for the current year.

Insider Activity

In other news, insider Keith Donald Bernhard sold 47,000 shares of the company’s stock in a transaction dated 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 sale, the insider owned 53,893 shares of the company’s stock, valued at approximately $1,313,372.41. This represents a 46.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Venkatanarayana Krishnamoorthy sold 18,988 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $24.00, for a total transaction of $455,712.00. Following the sale, the insider owned 64,512 shares of the company’s stock, valued at $1,548,288. This trade represents a 22.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 71,988 shares of company stock worth $1,743,842. Corporate insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Amalgamated Bank grew its position in Hamilton Insurance Group by 92.2% during the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock worth $30,000 after acquiring an additional 685 shares during the last quarter. CWM LLC boosted its stake in Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company’s stock worth $35,000 after purchasing an additional 1,075 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Hamilton Insurance Group by 1,404.4% during 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 stake in shares of Hamilton Insurance Group during the first quarter worth $62,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Hamilton Insurance Group in the third quarter valued at $71,000. Institutional investors own 29.17% of the company’s stock.

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.