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

Hamilton Insurance Group (NYSE:HG) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $19.00 target price on the stock. Morgan Stanley’s target price suggests a potential downside of 1.55% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. JMP Securities boosted their target price on shares of Hamilton Insurance Group from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods boosted their target price on shares of Hamilton Insurance Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their target price on shares of Hamilton Insurance Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Hamilton Insurance Group Stock Performance

Shares of HG stock opened at $19.30 on Monday. The company has a 50 day moving average price of $16.71 and a 200-day moving average price of $15.39. Hamilton Insurance Group has a 52 week low of $12.44 and a 52 week high of $20.01. The firm has a market capitalization of $2.14 billion and a PE ratio of 5.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HG. Newbridge Financial Services Group Inc. bought a new position in Hamilton Insurance Group during the 4th quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Hamilton Insurance Group during the 2nd quarter worth about $34,000. American International Group Inc. bought a new position in Hamilton Insurance Group during the 1st quarter worth about $115,000. Fifth Lane Capital LP bought a new position in Hamilton Insurance Group during the 1st quarter worth about $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Hamilton Insurance Group during the 2nd quarter worth about $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.