Hamilton Insurance price target raised to $25 from $23 at JMP Securities

JMP Securities analyst Matthew Carletti raised the firm’s price target on Hamilton Insurance to $25 from $23 and keeps an Outperform rating on the shares. Hamilton Insurance reported stronger than expected Q2 results and announced that its board of directors authorized a $150M share repurchase program that will expire when the company has repurchased the full value of shares authorized, 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.