Hamilton Insurance price target raised to $27 from $25 at Citizens JMP

Citizens JMP raised the firm’s price target on Hamilton Insurance (HG) to $27 from $25 and keeps an Outperform rating on the shares. Hamilton’s operating EPS missed the firm’s estimate, primarily driven by higher non-controlling interest, a higher-than-expected expense ratio, and higher corporate expense, partially offset by a lower-than-projected ex-catastrophe accident year loss ratio, the analyst tells investors in a research note. Hamilton is well-positioned to benefit from prevailing hard market conditions in both specialty insurance and reinsurance, the firm argues.