Barclays Cuts Hamilton Insurance Group (NYSE:HG) Price Target to $24.00

Hamilton Insurance Group (NYSE:HG) had its price objective reduced by Barclays from $26.00 to $24.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Wells Fargo & Company lifted their price target on Hamilton Insurance Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Hamilton Insurance Group Stock Performance

NYSE:HG opened at $18.92 on Monday. The company has a 50 day moving average price of $18.66 and a 200 day moving average price of $18.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. Hamilton Insurance Group has a fifty-two week low of $12.44 and a fifty-two week high of $20.71. The stock has a market capitalization of $1.92 billion, a P/E ratio of 4.23 and a beta of 1.03.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $512.84 million during the quarter, compared to analysts’ expectations of $515.96 million. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. During the same period in the prior year, the firm posted $0.41 EPS. Equities research analysts forecast that Hamilton Insurance Group will post 4.03 EPS for the current year.

Insider Buying and Selling at Hamilton Insurance Group

In other news, CAO Brian John Deegan sold 17,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $19.18, for a total transaction of $335,650.00. Following the completion of the transaction, the chief accounting officer now owns 20,824 shares in the company, valued at approximately $399,404.32. This trade represents a 45.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hamilton Insurance Group

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Hamilton Insurance Group by 198.2% in the third quarter. Wellington Management Group LLP now owns 3,715,579 shares of the company’s stock worth $71,859,000 after acquiring an additional 2,469,422 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Hamilton Insurance Group by 17.7% during the second quarter. American Century Companies Inc. now owns 2,084,332 shares of the company’s stock worth $34,704,000 after buying an additional 313,417 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Hamilton Insurance Group by 538.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock worth $16,677,000 after acquiring an additional 727,242 shares during the last quarter. State Street Corp raised its holdings in Hamilton Insurance Group by 133.3% during the 3rd quarter. State Street Corp now owns 532,632 shares of the company’s stock worth $10,301,000 after buying an additional 304,371 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Hamilton Insurance Group by 80.3% in the 2nd quarter. Acadian Asset Management LLC now owns 496,981 shares of the company’s stock valued at $8,265,000 after acquiring an additional 221,372 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.