The Hartford Insurance Group (NYSE:HIG) Rating Increased to Buy at Wall Street Zen

Key Points

• The Hartford Insurance Group's stock has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased positive sentiment among analysts.
• In the latest quarter, the company reported earnings of $3.41 per share, significantly surpassing analysts' expectations of $2.83, while its revenue demonstrated a year-over-year growth of 7.7%.
• The stock currently has a Moderate Buy average rating from analysts, with a consensus target price set at $138.00.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other equities analysts have also recently issued reports on HIG. Barclays decreased their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, Citigroup assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.00.

The Hartford Insurance Group Trading Down 0.5%

Shares of NYSE HIG opened at $132.52 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a 52-week low of $104.93 and a 52-week high of $135.17. The firm has a 50 day moving average price of $127.74 and a two-hundred day moving average price of $124.47. The stock has a market cap of $37.26 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.72.

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

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was 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 approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HIG. Private Wealth Management Group LLC lifted its stake 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 buying an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider's stock valued at $30,000 after buying an additional 99 shares in the last quarter. Park Square Financial Group LLC lifted its stake in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after buying an additional 155 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at $33,000. Finally, Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group in the first quarter valued at $33,000. 93.42% of the stock is 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.

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