The Hartford Insurance Group (NYSE:HIG) Stock Rating Lowered by Wall Street Zen

Key Points

• The Hartford Insurance Group was downgraded by Wall Street Zen from a "buy" to a "hold" rating, reflecting a shift in analyst sentiment.
• The stock currently has an average target price of $138.00, with seven analysts rating it as a "buy" and eight as a "hold".
• In its latest earnings report, The Hartford Insurance Group reported earnings per share of $3.41, exceeding estimates, while revenues grew 7.7% year-over-year.

Wall Street Zen lowered shares of The Hartford Insurance Group (NYSE:HIG - Free Report) from a buy rating to a hold rating in a research report sent to investors on Sunday.

A number of other research analysts have also weighed in on HIG. Citigroup initiated coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target for the company. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Piper Sandler lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Finally, Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $138.00.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock traded up $1.14 on Friday, hitting $131.85. The stock had a trading volume of 359,998 shares, compared to its average volume of 1,621,005. The Hartford Insurance Group has a 52-week low of $104.93 and a 52-week high of $135.17. 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 market cap of $37.07 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.27 and a beta of 0.72. The company's 50 day moving average price is $128.78 and its 200 day moving average price is $125.12.

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

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Insider Activity

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction on 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 Investors Weigh In On The Hartford Insurance Group

Large investors have recently bought and sold shares of the business. Caldwell Trust Co bought a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at about $145,000. Osaic Holdings Inc. raised its holdings in shares of The Hartford Insurance Group by 217.0% during the 2nd quarter. Osaic Holdings Inc. now owns 83,904 shares of the insurance provider's stock worth $10,495,000 after acquiring an additional 57,437 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $919,000. B. Riley Wealth Advisors Inc. bought a new position in The Hartford Insurance Group in the 2nd quarter valued at $1,613,000. Finally, Advisory Services Network LLC grew its position in The Hartford Insurance Group by 17.2% in the 2nd quarter. Advisory Services Network LLC now owns 16,680 shares of the insurance provider's stock valued at $2,075,000 after acquiring an additional 2,443 shares during the last quarter. 93.42% of the stock is currently owned by 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.