Hamilton Insurance Group (NYSE:HG) Trading Down 2.4%

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price dropped 2.4% during mid-day trading on Friday . The stock traded as low as $18.05 and last traded at $18.05. Approximately 398,929 shares changed hands during trading, an increase of 6% from the average daily volume of 377,556 shares. The stock had previously closed at $18.49.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays initiated coverage on Hamilton Insurance Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $26.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods increased their price objective on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Morgan Stanley cut shares of Hamilton Insurance Group from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research note on Monday, August 19th. Finally, JMP Securities increased their price target on Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

Hamilton Insurance Group Stock Performance

The firm’s 50 day simple moving average is $17.84 and its 200 day simple moving average is $15.96. The firm has a market cap of $1.82 billion and a PE ratio of 5.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

Hamilton Insurance Group (NYSE:HG) last issued its earnings results on Wednesday, August 7th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.29. Hamilton Insurance Group had a return on equity of 21.77% and a net margin of 21.45%. The firm had revenue of $587.94 million for the quarter, compared to analysts’ expectations of $502.37 million. On average, research analysts forecast that Hamilton Insurance Group, Ltd. will post 4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Hamilton Insurance Group in the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Hamilton Insurance Group in the 2nd quarter valued at approximately $34,000. American International Group Inc. bought a new stake in shares of Hamilton Insurance Group in the 1st quarter valued at approximately $115,000. Fifth Lane Capital LP purchased a new position in shares of Hamilton Insurance Group in the 1st quarter worth approximately $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Hamilton Insurance Group during the 2nd quarter valued at approximately $156,000. 29.17% of the stock is currently owned by institutional investors.

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.