Wells Fargo & Company Has Lowered Expectations for Hamilton Insurance Group (NYSE:HG) Stock Price

Hamilton Insurance Group (NYSE:HG) had its target price cut by analysts at Wells Fargo & Company from $23.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 24.10% from the company’s current price.

Several other equities analysts also recently commented on HG. Keefe, Bruyette & Woods increased their price objective on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Barclays set a $25.00 price target on shares of Hamilton Insurance Group and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, JMP Securities set a $27.00 price objective on Hamilton Insurance Group in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Hamilton Insurance Group Stock Performance

HG traded down $0.72 on Thursday, reaching $17.73. The company had a trading volume of 282,204 shares, compared to its average volume of 500,754. The company’s fifty day moving average is $19.66 and its 200 day moving average is $19.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $1.80 billion, a P/E ratio of 3.99 and a beta of 0.47. Hamilton Insurance Group has a fifty-two week low of $12.44 and a fifty-two week high of $21.68.

Hamilton Insurance Group (NYSE:HG) last announced its earnings results on Wednesday, February 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.44). Hamilton Insurance Group had a net margin of 21.88% and a return on equity of 21.92%. The business had revenue of $543.94 million during the quarter, compared to the consensus estimate of $460.17 million. As a group, analysts predict that Hamilton Insurance Group will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Hamilton Insurance Group

In other Hamilton Insurance Group news, CEO Adrian Joseph Daws sold 3,785 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $21.00, for a total value of $79,485.00. Following the transaction, the chief executive officer now directly owns 199,923 shares of the company’s stock, valued at approximately $4,198,383. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 15,000 shares of company stock valued at $311,566. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its position in shares of Hamilton Insurance Group by 295.1% during the fourth quarter. Sterling Capital Management LLC now owns 1,517 shares of the company’s stock worth $29,000 after purchasing an additional 1,133 shares during the period. Quarry LP boosted its stake in Hamilton Insurance Group by 448.5% during the 3rd quarter. Quarry LP now owns 1,640 shares of the company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the last quarter. Spire Wealth Management bought a new stake in Hamilton Insurance Group during the 4th quarter worth approximately $38,000. Bfsg LLC purchased a new stake in shares of Hamilton Insurance Group in the fourth quarter worth approximately $77,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Hamilton Insurance Group in the third quarter worth approximately $97,000. 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.