Hamilton Insurance Group (NYSE:HG) Lowered to Equal Weight at Morgan Stanley

Hamilton Insurance Group (NYSE:HG) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat reports. They presently have a $19.00 target price on the stock. Morgan Stanley’s target price points to a potential downside of 1.55% from the company’s current price.

Several other research firms have also commented on HG. Keefe, Bruyette & Woods lifted their price target on Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their target price on Hamilton Insurance Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, JMP Securities lifted their target price on Hamilton Insurance Group from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Hamilton Insurance Group Stock Up 1.3 %

NYSE HG opened at $19.30 on Monday. Hamilton Insurance Group has a 52 week low of $12.44 and a 52 week high of $20.01. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $16.71 and its 200-day simple moving average is $15.39. The firm has a market cap of $2.14 billion and a PE ratio of 5.87.

Hamilton Insurance Group (NYSE:HG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.91 by $0.29. Hamilton Insurance Group had a return on equity of 18.53% and a net margin of 19.11%. The business had revenue of $587.94 million for the quarter, compared to analyst estimates of $502.37 million. As a group, equities analysts anticipate that Hamilton Insurance Group will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Hamilton Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in Hamilton Insurance Group in the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Hamilton Insurance Group in the second quarter valued at approximately $34,000. American International Group Inc. purchased a new stake in Hamilton Insurance Group in the first quarter valued at approximately $115,000. Fifth Lane Capital LP purchased a new stake in Hamilton Insurance Group in the first quarter valued at approximately $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Hamilton Insurance Group during the second quarter worth approximately $156,000. Hedge funds and other 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.