The Hartford Insurance Group (NYSE:HIG) Rating Lowered to "Neutral" at Mizuho

Key Points

• Mizuho downgraded The Hartford Insurance Group from “outperform” to “neutral” while maintaining a $154 price target, implying roughly 13.2% upside from the stock’s $136.03 opening price.
• Analyst sentiment is broadly cautious: the stock has an overall “Hold” consensus rating, with 11 holds, five buys and one strong buy, and an average price target of $149.07.
• The Hartford reported quarterly EPS of $3.42, exceeding the $3.16 consensus estimate, while revenue rose 8.1% year over year to $7.26 billion. Institutional investors own 93.42% of the company’s shares.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) was downgraded by Mizuho from an "outperform" rating to a "neutral" rating in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $154.00 price target on the insurance provider's stock. Mizuho's target price would suggest a potential upside of 13.21% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a research note on Tuesday, July 28th. Piper Sandler reissued a "neutral" rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Royal Bank Of Canada upped their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Finally, Zacks Research raised shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $149.07.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $136.03 on Wednesday. The company has a market capitalization of $36.85 billion, a PE ratio of 8.79, a P/E/G ratio of 2.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a 50-day simple moving average of $139.25 and a two-hundred day simple moving average of $136.21. The Hartford Insurance Group has a one year low of $120.33 and a one year high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $3.41 EPS. Research analysts expect that The Hartford Insurance Group will post 12.8 EPS for the current fiscal year.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds have recently modified their holdings of HIG. Sequoia Financial Advisors LLC lifted its stake in The Hartford Insurance Group by 0.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 26,848 shares of the insurance provider's stock valued at $3,558,000 after acquiring an additional 190 shares in the last quarter. MCF Advisors LLC grew its stake in The Hartford Insurance Group by 11.4% during the second quarter. MCF Advisors LLC now owns 6,057 shares of the insurance provider's stock valued at $806,000 after acquiring an additional 619 shares in the last quarter. National Pension Service boosted its stake in The Hartford Insurance Group by 4.9% during the second quarter. National Pension Service now owns 554,720 shares of the insurance provider's stock valued at $73,511,000 after buying an additional 26,060 shares during the period. WINTON GROUP Ltd raised its stake in The Hartford Insurance Group by 12.8% in the second quarter. WINTON GROUP Ltd now owns 3,000 shares of the insurance provider's stock valued at $398,000 after purchasing an additional 340 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in The Hartford Insurance Group by 262.4% in the second quarter. Engineers Gate Manager LP now owns 61,198 shares of the insurance provider's stock valued at $8,110,000 after acquiring an additional 44,310 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

About The Hartford Insurance Group

The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.

The company's business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers' compensation, commercial auto, general liability, property, professional liability and other coverage.

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