The Hartford Insurance Group (NYSE:HIG) Lowered to Hold Rating by 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 report issued on Saturday.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays lowered their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an “overweight” rating and a $152.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.57.

The Hartford Insurance Group Stock Up 0.7%

Shares of HIG opened at $124.35 on Friday. The firm has a market cap of $34.65 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The company’s fifty day moving average is $130.01 and its two-hundred day moving average is $127.13. 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 quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The Hartford Insurance Group’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.53 EPS. 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, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was 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. The trade was a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,305 shares of company stock valued at $5,608,647. Company insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HIG. NorthRock Partners LLC raised its holdings in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock valued at $395,000 after acquiring an additional 80 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of The Hartford Insurance Group by 5.8% during the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 80 shares during the period. Mather Group LLC. raised its holdings in shares of The Hartford Insurance Group by 4.5% during the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 83 shares during the period. Wayfinding Financial LLC raised its holdings in shares of The Hartford Insurance Group by 3.0% during the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after acquiring an additional 84 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of The Hartford Insurance Group by 3.6% during the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 85 shares during the period. 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.