The Hartford Insurance Group (NYSE:HIG) Cut to Hold at Wall Street Zen

The Hartford Insurance Group (NYSE:HIG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Other research analysts have also recently issued research reports about the company. Wolfe Research began coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Raymond James Financial reissued an “outperform” rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. UBS Group lifted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their target price on 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 equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $138.00.

The Hartford Insurance Group Trading Down 0.4%

NYSE HIG opened at $130.90 on Friday. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day simple moving average of $128.62 and a two-hundred day simple moving average of $124.97. The stock has a market cap of $36.81 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.50 EPS. On average, analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was 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 SEC, which is available through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIG. Golden State Wealth Management LLC grew its stake in shares of The Hartford Insurance Group by 167.8% during the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock valued at $39,000 after buying an additional 198 shares during the last quarter. Sharp Financial Services LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $260,000. Oppenheimer & Co. Inc. grew its stake in shares of The Hartford Insurance Group by 86.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock valued at $533,000 after buying an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $233,000. Finally, Aurora Investment Counsel bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $2,434,000. 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, 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.