The Hartford Insurance Group (NYSE:HIG) Rating Increased to Strong-Buy at Mizuho

The Hartford Insurance Group (NYSE:HIG) was upgraded by equities research analysts at Mizuho to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Evercore ISI raised their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Argus upped their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Wolfe Research started coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.60.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $137.82 on Monday. The stock has a 50-day moving average of $130.53 and a 200-day moving average of $128.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $38.40 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63. The Hartford Insurance Group has a one year low of $104.93 and a one year high of $139.92.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. As a group, sell-side analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of HIG. Wealth Enhancement Advisory Services LLC lifted its stake in The Hartford Insurance Group by 61.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock valued at $15,727,000 after buying an additional 47,919 shares in the last quarter. Capital Fund Management S.A. boosted its stake in shares of The Hartford Insurance Group by 94.9% during the 2nd quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock worth $17,805,000 after purchasing an additional 68,351 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of The Hartford Insurance Group by 12.0% during the second quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock worth $26,546,000 after buying an additional 22,500 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of The Hartford Insurance Group by 7.9% in the first quarter. Geneos Wealth Management Inc. now owns 6,001 shares of the insurance provider’s stock valued at $743,000 after buying an additional 441 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of The Hartford Insurance Group during the second quarter valued at approximately $324,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Company Profile

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.