The Hartford Insurance Group (NYSE:HIG) Rating Increased to Buy at Wall Street Zen

The Hartford Insurance Group (NYSE:HIG – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
A number of other research firms have also weighed in on HIG. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Barclays dropped their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, July 7th. Raymond James Financial restated an “outperform” rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.00.
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The Hartford Insurance Group Stock Down 0.5%
HIG opened at $132.52 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day moving average is $127.74 and its 200 day moving average is $124.47. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The firm has a market capitalization of $37.26 billion, a P/E ratio of 12.01, a PEG ratio of 1.29 and a beta of 0.72.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the firm earned $2.50 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.
Insider Activity
In other news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On The Hartford Insurance Group
Large investors have recently modified their holdings of the business. Private Wealth Management Group LLC boosted its position in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC boosted its position in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 99 shares during the period. Park Square Financial Group LLC boosted its position in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 155 shares during the period. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $33,000. Finally, Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.
About The Hartford Insurance Group
(Get Free Report)
The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers’ compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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