Citizens stock rating reiterated at Market Outperform by JMP

Investing.com - JMP Securities has reiterated its Market Outperform rating and $29.00 price target on Hamilton Insurance Group (NYSE:HG), according to a note from analyst Matthew Carletti. The target represents a potential 29% upside from the current price of $22.38, with the stock trading at an attractive P/E ratio of 6.2.

The firm maintained its positive outlook on Hamilton Insurance amid broader movements in the insurance sector’s valuations since the end of the second quarter. According to InvestingPro data, the company has demonstrated strong momentum with a 17.6% year-to-date return and is currently trading near its 52-week high of $23.03.

JMP noted that since June 30, average insurance and reinsurance book values have experienced estimated movements of +0.6% from mark-to-market impacts, compared to +0.5% in the previous week.

The analyst observed that insurance and reinsurance stocks covered by Citizens showed absolute performance of +0.4% last week, representing relative underperformance compared to financial sector benchmarks.

This performance lagged behind the Financial Select Sector SPDR Fund (NYSE:XLF) by 0.5% and underperformed the S&P 500 by 2.1% during the same period.

In other recent news, Hamilton Insurance Group reported strong second-quarter 2025 results, with operating earnings per share of $1.55. This figure significantly surpassed both JMP Securities’ estimate of $1.09 and the consensus forecast of $1.05. The impressive earnings were largely due to higher-than-expected net investment income of $149 million, driven by robust returns from the Two Sigma Hamilton Fund. Following these results, JMP Securities raised its price target for Hamilton Insurance Group to $29 while maintaining a Market Outperform rating. Additionally, the company announced several leadership changes, including the appointment of Russ Buckley as Group Chief Risk Officer and Raymond (NSE:RYMD) Karrenbauer as Group Chief Information Officer. Adrian Daws will soon take over as CEO of Hamilton Re, with Alex Baker succeeding him at Hamilton Global Specialty. Tim Duffin will also step into the newly created role of Group Chief Underwriting Officer. Furthermore, Karen Green and David Priebe have joined Hamilton’s Board of Directors, as the company continues to strengthen its leadership team.

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