Hamilton Insurance Group (NYSE:HG) PT Raised to $23.00 at JMP Securities

Hamilton Insurance Group (NYSE:HG) had its price objective upped by equities research analysts at JMP Securities from $22.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 42.68% from the stock’s current price.

A number of other research firms also recently weighed in on HG. Morgan Stanley reduced their price target on Hamilton Insurance Group from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Wells Fargo & Company raised Hamilton Insurance Group from an “equal weight” rating to an “overweight” rating and set a $16.00 price target for the company in a research report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $19.20.

Hamilton Insurance Group Stock Performance

Shares of HG stock traded up $0.98 on Thursday, reaching $16.12. The company had a trading volume of 1,029,568 shares, compared to its average volume of 266,922. The stock’s 50-day simple moving average is $13.70. Hamilton Insurance Group has a 12 month low of $12.44 and a 12 month high of $16.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79.

Hamilton Insurance Group (NYSE:HG) last posted its earnings results on Wednesday, March 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.58. The business had revenue of $495.16 million for the quarter, compared to the consensus estimate of $412.55 million. As a group, sell-side analysts expect that Hamilton Insurance Group will post 3.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Hamilton Insurance Group in the fourth quarter valued at about $19,249,000. Penn Capital Management Company LLC acquired a new stake in shares of Hamilton Insurance Group during the fourth quarter valued at about $9,352,000. Ghisallo Capital Management LLC acquired a new stake in shares of Hamilton Insurance Group during the fourth quarter valued at about $3,738,000. Sei Investments Co. lifted its holdings in Hamilton Insurance Group by 25.3% during the 1st quarter. Sei Investments Co. now owns 204,185 shares of the company’s stock worth $2,844,000 after purchasing an additional 41,256 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its stake in Hamilton Insurance Group by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 169,180 shares of the company’s stock worth $2,357,000 after acquiring an additional 13,969 shares during the last quarter. 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.