The Hartford Insurance Group (NYSE:HIG) Coverage Initiated by Analysts at Wolfe Research

Key Points

• Wolfe Research has initiated coverage on The Hartford Insurance Group (NYSE:HIG), assigning a "peer perform" rating to the stock.
• The Hartford Insurance Group recently reported a quarterly earnings per share (EPS) of $3.41, surpassing analysts' estimates of $2.83, while its revenue for the quarter was $6.99 billion.
• Institutional investors own 93.42% of The Hartford Insurance Group's stock, with significant stakes being adjusted by various hedge funds during the second quarter.

Equities research analysts at Wolfe Research started coverage on shares of The Hartford Insurance Group (NYSE:HIG - Get Free Report) in a report released on Tuesday, Marketbeat reports. The firm set a "peer perform" rating on the insurance provider's stock.

A number of other research analysts have also recently weighed in on the stock. Barclays cut their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target on the stock. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $138.00.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $131.58 on Tuesday. 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 Hartford Insurance Group has a 1-year low of $104.93 and a 1-year high of $135.17. The firm has a market capitalization of $37.00 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.28 and a beta of 0.72. The firm's 50 day simple moving average is $127.91 and its 200 day simple moving average is $124.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. As a group, analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the 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 disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its stake in shares of The Hartford Insurance Group by 217.0% during the second quarter. Osaic Holdings Inc. now owns 83,904 shares of the insurance provider's stock valued at $10,495,000 after acquiring an additional 57,437 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in The Hartford Insurance Group in the second quarter worth about $919,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of The Hartford Insurance Group during the second quarter valued at approximately $1,613,000. Advisory Services Network LLC grew its holdings in shares of The Hartford Insurance Group by 17.2% during the second quarter. Advisory Services Network LLC now owns 16,680 shares of the insurance provider's stock valued at $2,075,000 after buying an additional 2,443 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of The Hartford Insurance Group by 103.2% during the second quarter. Geneos Wealth Management Inc. now owns 12,197 shares of the insurance provider's stock valued at $1,547,000 after buying an additional 6,196 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 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.

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