Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Hamilton Insurance Group (NYSE:HG) Stock

Hamilton Insurance Group (NYSE:HG) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $28.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 11.28% from the stock’s current price.

A number of other brokerages have also commented on HG. Zacks Research raised Hamilton Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. JMP Securities set a $32.00 price objective on Hamilton Insurance Group in a report on Wednesday, November 5th. Barclays raised their target price on shares of Hamilton Insurance Group from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Hamilton Insurance Group in a research note on Wednesday, November 5th. Finally, Citizens Jmp increased their price objective on shares of Hamilton Insurance Group from $31.00 to $32.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 5th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.63.

Hamilton Insurance Group Price Performance

HG stock opened at $26.96 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.66. The company’s fifty day moving average price is $24.71 and its 200-day moving average price is $22.85. Hamilton Insurance Group has a one year low of $16.80 and a one year high of $27.28. The company has a market capitalization of $2.65 billion, a PE ratio of 6.42 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.32 earnings per share (EPS) for the quarter, beating 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 $698.85 million for the quarter, compared to the consensus estimate of $537.70 million. On average, equities analysts anticipate that Hamilton Insurance Group will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, insider Keith Donald Bernhard sold 47,000 shares of the firm’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 completion of the sale, the insider owned 53,893 shares in the company, valued at approximately $1,313,372.41. This trade represents a 46.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alexander James Baker sold 18,350 shares of Hamilton Insurance Group stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $26.19, for a total transaction of $480,586.50. Following the transaction, the chief executive officer directly owned 84,136 shares of the company’s stock, valued at approximately $2,203,521.84. This represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.46% of the stock is owned by insiders.

Institutional Trading of Hamilton Insurance Group

Several institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Hamilton Insurance Group during the first quarter valued at approximately $50,838,000. Wellington Management Group LLP lifted its stake in shares of Hamilton Insurance Group by 26.1% during the 1st quarter. Wellington Management Group LLP now owns 4,658,454 shares of the company’s stock worth $96,570,000 after acquiring an additional 963,021 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in Hamilton Insurance Group during the 2nd quarter valued at $14,272,000. Bridgeway Capital Management LLC grew its position in Hamilton Insurance Group by 398.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 581,754 shares of the company’s stock valued at $12,060,000 after acquiring an additional 465,152 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Hamilton Insurance Group by 101.9% in the third quarter. Dimensional Fund Advisors LP now owns 705,277 shares of the company’s stock worth $17,490,000 after purchasing an additional 355,947 shares during the period. 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.