The Hartford Insurance Group (NYSE:HIG) Raised to “Hold” at Zacks Research

The Hartford Insurance Group (NYSE:HIG) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

HIG has been the topic of several other research reports. Wells Fargo & Company reduced their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b+)” rating on shares of The Hartford Insurance Group in a report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. increased their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Mizuho lifted their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Trading Up 1.3%

Shares of HIG opened at $139.95 on Tuesday. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $146.07. The firm has a market capitalization of $37.91 billion, a P/E ratio of 9.05, a P/E/G ratio of 3.40 and a beta of 0.46. The firm has a 50-day moving average price of $138.10 and a 200 day moving average price of $136.60. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that The Hartford Insurance Group will post 12.8 EPS for the current year.

Hedge Funds Weigh In On The Hartford Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Pacific Financial purchased a new stake in The Hartford Insurance Group during the first quarter worth about $26,000. MidFirst Bank purchased a new position in shares of The Hartford Insurance Group in the second quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group in the third quarter valued at approximately $26,000. Navigoe LLC acquired a new position in shares of The Hartford Insurance Group in the second quarter valued at approximately $27,000. Finally, Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.