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

Hamilton Insurance Group (NYSE:HG) had its target price reduced by investment analysts at Barclays from $26.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 27.46% from the company’s previous close.

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

Hamilton Insurance Group Stock Up 1.7 %

Shares of NYSE:HG opened at $18.83 on Monday. Hamilton Insurance Group has a 12 month low of $12.44 and a 12 month high of $20.71. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $18.61 and its two-hundred day moving average price is $18.11. The firm has a market cap of $1.91 billion, a P/E ratio of 4.21 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 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Hamilton Insurance Group had a return on equity of 21.92% and a net margin of 21.88%. The business had revenue of $512.84 million during the quarter, compared to the consensus estimate of $515.96 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, research analysts forecast that Hamilton Insurance Group will post 4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hamilton Insurance Group news, CAO Brian John Deegan sold 17,500 shares of Hamilton Insurance Group stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $19.18, for a total value of $335,650.00. Following the completion of the sale, the chief accounting officer now directly owns 20,824 shares in the company, valued at approximately $399,404.32. The trade was a 45.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Hamilton Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Hamilton Insurance Group by 538.4% during the third quarter. JPMorgan Chase & Co. now owns 862,314 shares of the company’s stock valued at $16,677,000 after acquiring an additional 727,242 shares during the last quarter. Franklin Resources Inc. boosted its stake in Hamilton Insurance Group by 90.0% in the 3rd quarter. Franklin Resources Inc. now owns 99,190 shares of the company’s stock worth $1,845,000 after purchasing an additional 46,978 shares during the period. Barclays PLC grew its stake in Hamilton Insurance Group by 845.0% during the third quarter. Barclays PLC now owns 57,663 shares of the company’s stock valued at $1,114,000 after acquiring an additional 51,561 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Hamilton Insurance Group during the 3rd quarter valued at $97,000. Finally, Geode Capital Management LLC increased its stake in Hamilton Insurance Group by 136.5% in the 3rd quarter. Geode Capital Management LLC now owns 475,553 shares of the company’s stock worth $9,197,000 after acquiring an additional 274,483 shares during the last quarter. Institutional investors and hedge funds own 29.17% of the company’s stock.

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.