Hamilton Insurance Group (NYSE:HG) Rating Lowered to “Hold” at Zacks Research

Hamilton Insurance Group (NYSE:HG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts also recently commented on HG. Weiss Ratings restated a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Morgan Stanley set a $28.00 price objective on Hamilton Insurance Group in a research report on Tuesday, December 16th. Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Finally, Barclays lifted their target price on Hamilton Insurance Group from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.88.

Hamilton Insurance Group Trading Up 0.1%

Shares of NYSE:HG opened at $27.84 on Monday. The stock has a 50 day moving average of $27.33 and a 200 day moving average of $25.18. The company has a market cap of $2.74 billion, a PE ratio of 6.63 and a beta of 0.70. Hamilton Insurance Group has a 12-month low of $16.80 and a 12-month high of $28.72. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group (NYSE:HG) last released its earnings results on Tuesday, November 4th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.61. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. The company had revenue of $667.65 million for the quarter, compared to analysts’ expectations of $537.70 million. As a group, equities research analysts expect that Hamilton Insurance Group will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Hamilton Insurance Group news, CEO Alexander James Baker sold 18,350 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $26.19, for a total transaction of $480,586.50. Following the completion of the transaction, the chief executive officer owned 84,136 shares in the company, valued at $2,203,521.84. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in shares of Hamilton Insurance Group by 186.0% in the first quarter. AQR Capital Management LLC now owns 57,399 shares of the company’s stock valued at $1,190,000 after acquiring an additional 37,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hamilton Insurance Group by 9.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the company’s stock valued at $510,000 after purchasing an additional 2,071 shares during the last quarter. Millennium Management LLC raised its position in Hamilton Insurance Group by 9.7% in the 1st quarter. Millennium Management LLC now owns 442,820 shares of the company’s stock worth $9,180,000 after purchasing an additional 39,020 shares during the period. Goldman Sachs Group Inc. lifted its stake in Hamilton Insurance Group by 8.1% in the first quarter. Goldman Sachs Group Inc. now owns 279,653 shares of the company’s stock worth $5,797,000 after purchasing an additional 20,926 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Hamilton Insurance Group by 87.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,739 shares of the company’s stock valued at $1,777,000 after buying an additional 39,927 shares during the period. 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.