The Hartford Insurance Group (NYSE:HIG) Given Outperform Rating at Raymond James Financial

Key Points

• Raymond James Financial has restated their "outperform" rating for The Hartford Insurance Group (NYSE:HIG) with a price target of $140.00, indicating a potential upside of 13.93% from its current price.
• The company reported earnings of $3.41 per share for the last quarter, exceeding analysts' expectations of $2.83, and achieved a revenue of $6.99 billion.
• Analyst ratings for The Hartford Insurance Group vary, with six analysts rating the stock as a "hold," seven as a "buy," and one as a "strong buy," reflecting an average target price of $135.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Raymond James Financial in a report released on Friday,Benzinga reports. They presently have a $140.00 price objective on the insurance provider's stock, up from their prior price objective of $135.00. Raymond James Financial's target price points to a potential upside of 13.93% from the stock's current price.

A number of other equities analysts also recently commented on HIG. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday. UBS Group boosted their target price on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Barclays lowered their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley boosted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $135.67.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded down $1.50 on Friday, hitting $122.89. 50,085 shares of the company were exchanged, compared to its average volume of 1,666,970. The stock has a market capitalization of $34.55 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.25 and a beta of 0.69. The company has a 50-day moving average price of $125.17 and a 200 day moving average price of $120.51. The Hartford Insurance Group has a 1-year low of $103.96 and a 1-year high of $132.09. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC grew its position in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 133 shares during the last quarter. Park Square Financial Group LLC boosted its position in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Center for Financial Planning Inc. acquired a new stake in The Hartford Insurance Group during the first quarter worth approximately $33,000. Meeder Asset Management Inc. boosted its position in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after acquiring an additional 161 shares during the last quarter. Finally, Spurstone Advisory Services LLC acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $33,000. 93.42% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.