Wall Street Zen Upgrades The Hartford Insurance Group (NYSE:HIG) to “Buy”

The Hartford Insurance Group (NYSE:HIG) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Friday.

Several other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Saturday, September 27th. Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. UBS Group boosted 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. Keefe, Bruyette & Woods boosted 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. Finally, JPMorgan Chase & Co. boosted 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.93.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $133.51 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $130.65 and a 200-day simple moving average of $125.97. The company has a market cap of $37.54 billion, a PE ratio of 12.10, a P/E/G ratio of 1.29 and a beta of 0.69. The Hartford Insurance Group has a 12-month low of $104.93 and a 12-month high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) 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 the consensus estimate 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 period in the previous year, the firm posted $2.50 earnings per share. On average, equities research analysts forecast that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was 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 corporate insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIG. Norges Bank purchased a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $506,329,000. Franklin Resources Inc. grew its position in The Hartford Insurance Group by 51.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock worth $414,632,000 after purchasing an additional 1,111,659 shares in the last quarter. Woodline Partners LP grew its holdings in shares of The Hartford Insurance Group by 28,218.5% during the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Nuveen LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $87,516,000. Finally, Bahl & Gaynor Inc. grew its holdings in shares of The Hartford Insurance Group by 47.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after acquiring an additional 684,390 shares in the last quarter. 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.