Truist Financial Begins Coverage on The Hartford Insurance Group (NYSE:HIG)

Research analysts at Truist Financial started coverage on shares of The Hartford Insurance Group (NYSE:HIG) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $137.00 price target on the insurance provider’s stock. Truist Financial’s target price would suggest a potential upside of 4.45% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Piper Sandler restated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada increased their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Finally, Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $145.25.

The Hartford Insurance Group Stock Up 0.8%

NYSE:HIG opened at $131.17 on Monday. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $146.07. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $35.53 billion, a P/E ratio of 9.07, a P/E/G ratio of 2.14 and a beta of 0.49. The stock’s fifty day simple moving average is $134.29 and its 200-day simple moving average is $135.00.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group will post 12.85 earnings per share for the current year.

Institutional Trading of The Hartford Insurance Group

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $4,067,052,000. Dimensional Fund Advisors LP lifted its stake in The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after acquiring an additional 72,448 shares during the last quarter. Bank of America Corp DE lifted its stake in The Hartford Insurance Group by 2.1% in the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock valued at $518,150,000 after acquiring an additional 79,827 shares during the last quarter. First Trust Advisors LP grew its position in shares of The Hartford Insurance Group by 5.8% in the 1st quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock valued at $468,113,000 after acquiring an additional 189,916 shares during the period. Finally, Legal & General Group Plc acquired a new position in The Hartford Insurance Group during the second quarter worth approximately $346,877,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Key Stories Impacting The Hartford Insurance Group

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Wells Fargo maintained its Buy/Overweight view on HIG, with a $158 price target. Although the target was reduced from $164, it still implies meaningful upside and signals continued confidence in Hartford’s valuation and earnings outlook. Wells Fargo Remains a Buy on Hartford Insurance
• Positive Sentiment: Hartford completed its acquisition of Equitable’s Employee Benefits business. The transaction expands Hartford’s employee-benefits operations and could provide additional scale, product capabilities and revenue opportunities, although the financial contribution and integration impact were not detailed in the report. The Hartford Closes Acquisition Of Equitable’s Employee Benefits Business
• Positive Sentiment: Analysts’ average price target is approximately $145.25, above the recent $131.17 reference price. This suggests consensus expects some recovery potential despite recent target reductions. The Hartford Insurance Group Stock Has Average Target Price of $145.25
• Neutral Sentiment: Truist initiated coverage with a Hold rating and a $137 target, indicating limited near-term upside and a wait-and-see stance. The Hartford Insurance Group Stock Picked Up by Analysts at Truist Financial
• Negative Sentiment: Keefe, Bruyette & Woods cut its target to $137 from $144 and assigned a Market Perform rating. Separately, the upcoming third-quarter earnings report is expected to show a double-digit year-over-year EPS decline, creating a near-term catalyst for caution. The Hartford Financial Services’ Quarterly Earnings Preview

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.