Royal Bank Of Canada Upgrades The Hartford Insurance Group (NYSE:HIG) to Hold

The Hartford Insurance Group (NYSE:HIG) was upgraded by stock analysts at Royal Bank Of Canada to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. Finally, Piper Sandler lifted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $143.29.

The Hartford Insurance Group Trading Down 0.0%

Shares of NYSE:HIG opened at $137.52 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.19 and a beta of 0.69. The stock’s 50-day simple moving average is $130.06 and its two-hundred day simple moving average is $128.51. The Hartford Insurance Group has a 52-week low of $104.93 and a 52-week high of $138.64.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 earnings per share. Analysts expect that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Activity

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by insiders.

Institutional Trading of The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. grew its stake in shares of The Hartford Insurance Group by 95.1% in the first quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after buying an additional 3,140 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in The Hartford Insurance Group by 61.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock valued at $15,727,000 after acquiring an additional 47,919 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $324,000. Jump Financial LLC raised its stake in The Hartford Insurance Group by 330.5% in the first quarter. Jump Financial LLC now owns 28,218 shares of the insurance provider’s stock valued at $3,491,000 after buying an additional 21,664 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of The Hartford Insurance Group by 94.5% during the 2nd quarter. Acadian Asset Management LLC now owns 300,409 shares of the insurance provider’s stock worth $38,107,000 after acquiring an additional 145,970 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

About The Hartford Insurance Group

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.