Wall Street Zen Upgrades The Hartford Insurance Group (NYSE:HIG) to "Buy"

Key Points

• Wall Street Zen upgraded The Hartford Insurance Group (NYSE:HIG) from a "hold" rating to a "buy" rating, signaling positive sentiment towards the stock.
• Analysts have increased their target prices for HIG, with Keefe, Bruyette & Woods setting it at $137.00 and Cantor Fitzgerald targeting $152.00. The stock maintains an average target price of $137.93.
• The Hartford reported a strong earnings performance with an EPS of $3.41, exceeding consensus estimates by $0.58, and a year-over-year revenue increase of 7.7%.

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 report issued on Friday.

Several other analysts have also weighed in on the company. Keefe, Bruyette & Woods upped their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 target price for the company. Evercore ISI lifted their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an "in-line" rating in a research report on Wednesday. Barclays lowered their price target 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. Finally, UBS Group lifted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $137.93.

The Hartford Insurance Group Price Performance

HIG traded up $0.57 on Friday, hitting $133.51. 1,052,446 shares of the company were exchanged, compared to its average volume of 1,469,527. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. 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 firm has a market capitalization of $37.54 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.28 and a beta of 0.69. The business's fifty day moving average is $130.65 and its 200 day moving average is $125.93.

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 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 during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $2.50 EPS. As a group, sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated 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 owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in HIG. Aaron Wealth Advisors LLC boosted its holdings in The Hartford Insurance Group by 164.9% in the third quarter. Aaron Wealth Advisors LLC now owns 4,434 shares of the insurance provider's stock valued at $591,000 after acquiring an additional 2,760 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of The Hartford Insurance Group by 6.2% in the 3rd quarter. GAMMA Investing LLC now owns 13,691 shares of the insurance provider's stock worth $1,826,000 after purchasing an additional 796 shares during the period. Capital Asset Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth about $211,000. Caldwell Trust Co acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at about $145,000. Finally, Osaic Holdings Inc. grew 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 purchasing an additional 57,437 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Company Profile

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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