Citigroup Begins Coverage on Hamilton Insurance Group (NYSE:HG)

Equities researchers at Citigroup started coverage on shares of Hamilton Insurance Group (NYSE:HG) in a research note issued on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $25.00 price target on the stock. Citigroup’s price target indicates a potential upside of 2.21% from the company’s current price.

A number of other equities analysts also recently weighed in on HG. Keefe, Bruyette & Woods boosted their target price on shares of Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. JMP Securities boosted their price objective on shares of Hamilton Insurance Group from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Morgan Stanley upped their target price on shares of Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Barclays lifted their price target on Hamilton Insurance Group from $21.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Finally, Wall Street Zen raised Hamilton Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.14.

Hamilton Insurance Group Trading Up 2.1%

Shares of NYSE:HG opened at $24.46 on Wednesday. The company’s 50-day moving average price is $21.45 and its two-hundred day moving average price is $20.30. Hamilton Insurance Group has a one year low of $16.80 and a one year high of $24.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.71. The stock has a market capitalization of $2.48 billion, a PE ratio of 6.76 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. The business had revenue of $712.03 million for the quarter, compared to analyst estimates of $519.50 million. On average, equities analysts forecast that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Transactions at Hamilton Insurance Group

In other news, CEO Adrian Joseph Daws sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the sale, the chief executive officer owned 190,440 shares in the company, valued at $4,189,680. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Therese M. Vaughan bought 4,750 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was purchased at an average cost of $21.05 per share, for a total transaction of $99,987.50. Following the transaction, the director directly owned 20,892 shares of the company’s stock, valued at $439,776.60. The trade was a 29.43% increase in their position. The disclosure for this purchase can be found here. 17.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Hamilton Insurance Group

Several hedge funds have recently added to or reduced their stakes in HG. Amalgamated Bank boosted its holdings in Hamilton Insurance Group by 92.2% in the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company’s stock valued at $30,000 after purchasing an additional 685 shares during the period. Sterling Capital Management LLC raised its position in shares of Hamilton Insurance Group by 295.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,517 shares of the company’s stock valued at $29,000 after buying an additional 1,133 shares in the last quarter. CWM LLC boosted its stake in shares of Hamilton Insurance Group by 172.6% in the first quarter. CWM LLC now owns 1,698 shares of the company’s stock valued at $35,000 after buying an additional 1,075 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Hamilton Insurance Group in the first quarter valued at approximately $62,000. Finally, Ameritas Investment Partners Inc. grew 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 worth $99,000 after buying an additional 585 shares in the last quarter. 29.17% of the stock is owned by institutional investors and hedge funds.

Hamilton Insurance Group Company Profile

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.