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

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

Several other equities research analysts also recently weighed in on HIG. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Royal Bank Of Canada lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday. Cantor Fitzgerald increased their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Mizuho raised their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Stock Up 1.3%

The Hartford Insurance Group stock opened at $139.95 on Tuesday. The Hartford Insurance Group has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $37.91 billion, a P/E ratio of 9.05, a PEG ratio of 3.40 and a beta of 0.46. The stock has a 50-day simple moving average of $138.10 and a 200-day simple moving average of $136.60.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 EPS. Equities research analysts expect that The Hartford Insurance Group will post 12.8 earnings per share for the current year.

Institutional Investors Weigh In On The Hartford Insurance Group

Large investors have recently modified their holdings of the stock. Amundi lifted its holdings in shares of The Hartford Insurance Group by 3.6% during the second quarter. Amundi now owns 1,797,426 shares of the insurance provider’s stock worth $238,195,000 after purchasing an additional 62,960 shares during the period. HighTower Advisors LLC grew its position in The Hartford Insurance Group by 2.4% in the 2nd quarter. HighTower Advisors LLC now owns 23,137 shares of the insurance provider’s stock valued at $3,066,000 after buying an additional 536 shares during the last quarter. California State Teachers Retirement System increased its stake in The Hartford Insurance Group by 14,253.4% in the 2nd quarter. California State Teachers Retirement System now owns 54,248,255 shares of the insurance provider’s stock valued at $7,188,979,000 after buying an additional 53,870,308 shares during the period. Wedmont Private Capital raised its position in The Hartford Insurance Group by 6.4% during the 2nd quarter. Wedmont Private Capital now owns 5,169 shares of the insurance provider’s stock worth $717,000 after buying an additional 310 shares during the last quarter. Finally, Saudi Central Bank raised its position in The Hartford Insurance Group by 87.2% during the 2nd quarter. Saudi Central Bank now owns 19,252 shares of the insurance provider’s stock worth $2,551,000 after buying an additional 8,967 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About The Hartford Insurance Group

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.