The Hartford Insurance Group (NYSE:HIG) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded The Hartford Insurance Group from “strong sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $149.67.
• The stock opened at $139.95, within its 52-week range of $120.33 to $146.07. Hartford recently beat quarterly earnings expectations, reporting $3.42 in EPS versus the $3.16 consensus and $7.26 billion in revenue.
• Institutional investors own a substantial 93.42% of the company, with several hedge funds and investment firms increasing their positions during the second quarter.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company cut their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Royal Bank Of Canada boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Piper Sandler restated a "neutral" rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. UBS Group reduced their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Finally, Mizuho boosted their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $149.67.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $139.95 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a 52-week low of $120.33 and a 52-week high of $146.07. The firm has a market cap of $37.91 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 3.40 and a beta of 0.46. The company's 50 day moving average is $138.10 and its two-hundred day moving average is $136.60.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share 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 analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 earnings per share. On average, research analysts expect that The Hartford Insurance Group will post 12.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC acquired a new position in The Hartford Insurance Group in the first quarter valued at approximately $207,000. NewEdge Advisors LLC increased its stake in The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock valued at $7,122,000 after purchasing an additional 886 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock worth $21,297,000 after purchasing an additional 6,285 shares in the last quarter. HUB Investment Partners LLC lifted its position in shares of The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after buying an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after buying an additional 39,220 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

About The Hartford Insurance Group

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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