The Hartford Insurance Group (NYSE:HIG) Rating Lowered to Hold at Keefe, Bruyette & Woods

The Hartford Insurance Group (NYSE:HIG) was downgraded by investment analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a report released on Sunday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Morgan Stanley boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Roth Mkm raised their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Mizuho began coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price for the company. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Piper Sandler increased their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $147.25.

The Hartford Insurance Group Stock Up 1.6%

The Hartford Insurance Group stock opened at $134.43 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a 1-year low of $107.49 and a 1-year high of $144.50. The firm’s fifty day simple moving average is $137.00 and its 200-day simple moving average is $134.01. The company has a market capitalization of $37.09 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.28 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The Hartford Insurance Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.94 earnings per share. Sell-side analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the sale, the chief executive officer owned 194,817 shares in the company, valued at $26,574,986.97. This represents a 50.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 384,621 shares of company stock valued at $53,010,925. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of HIG. Haven Private LLC increased its stake in The Hartford Insurance Group by 1.1% in the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 71 shares during the last quarter. Signal Advisors Wealth LLC increased its position in shares of The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 75 shares during the last quarter. GW&K Investment Management LLC lifted its position in The Hartford Insurance Group by 40.3% during the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC grew its stake in The Hartford Insurance Group by 0.4% in the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after buying an additional 79 shares in the last quarter. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of The Hartford Insurance Group by 5.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.