The Hartford Insurance Group (NYSE:HIG) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• The Hartford Insurance Group has been upgraded from a "hold" rating to a "buy" rating by analysts at Wall Street Zen, indicating a positive outlook on the stock.
• Raymond James Financial has set an increased target price of $140 for The Hartford, while UBS Group raised their target price to $145, reflecting confidence in the company's future performance.
• The company reported $3.41 earnings per share, significantly exceeding analyst estimates and showing a 7.7% year-over-year revenue increase.

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

A number of other brokerages have also recently commented on HIG. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday. Jefferies Financial Group reduced their price objective on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Morgan Stanley lifted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday. UBS Group boosted their price target on The Hartford Insurance Group from $142.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.67.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $122.86 on Friday. The company has a 50 day moving average price of $125.05 and a 200-day moving average price of $120.61. The firm has a market capitalization of $34.54 billion, a PE ratio of 11.14, a P/E/G ratio of 1.23 and a beta of 0.69. 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 has a 52 week low of $103.96 and a 52 week high of $132.09.

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, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The business had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the firm posted $2.50 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock worth $487,077,000 after buying an additional 398,950 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock worth $419,053,000 after acquiring an additional 234,320 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock valued at $434,181,000 after acquiring an additional 60,116 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of The Hartford Insurance Group by 15.1% in the fourth quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider's stock valued at $293,578,000 after purchasing an additional 352,282 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in The Hartford Insurance Group by 48.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock worth $247,761,000 after purchasing an additional 735,170 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

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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