The Hartford Insurance Group (NYSE:HIG) Research Coverage Started at Truist Financial

Truist Financial initiated coverage on shares of The Hartford Insurance Group (NYSE:HIG) in a report published on Monday, MarketBeat reports. The firm issued a hold rating and a $137.00 price target on the insurance provider’s stock.

A number of other equities analysts have also issued reports on the company. Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Mizuho dropped their price objective on The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. 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. Finally, Morgan Stanley cut their price objective on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $145.25.

The Hartford Insurance Group Trading Up 0.5%

The Hartford Insurance Group stock opened at $131.86 on Monday. The firm has a 50 day simple moving average of $134.06 and a 200-day simple moving average of $134.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $35.72 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 2.14 and a beta of 0.49. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the business earned $3.41 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that The Hartford Insurance Group will post 12.88 EPS for the current fiscal year.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds have recently made changes to their positions in HIG. B. Riley Wealth Advisors Inc. grew its holdings in shares of The Hartford Insurance Group by 11.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,675 shares of the insurance provider’s stock worth $572,000 after acquiring an additional 498 shares during the last quarter. Krilogy Financial LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $324,000. Sax Wealth Advisors LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $205,000. NorthCrest Asset Manangement LLC raised its position in shares of The Hartford Insurance Group by 29.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 18,918 shares of the insurance provider’s stock worth $2,450,000 after purchasing an additional 4,323 shares during the period. Finally, Riversedge Advisors LLC lifted its holdings in shares of The Hartford Insurance Group by 33.3% during the third quarter. Riversedge Advisors LLC now owns 3,092 shares of the insurance provider’s stock valued at $378,000 after purchasing an additional 773 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Key The Hartford Insurance Group News

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

• Positive Sentiment: Employee benefits acquisition expands growth platform: HIG completed its acquisition of Equitable’s Employee Benefits business, adding approximately $500 million in premiums, broadening its product portfolio and enhancing digital capabilities. The deal could strengthen HIG’s benefits business and diversify its revenue base. The Hartford Closes Acquisition Of Equitable’s Employee Benefits Business
• Positive Sentiment: Wells Fargo maintains a Buy rating: Continued bullish coverage from Wells Fargo signals that at least one major analyst sees further upside in HIG, potentially helping offset more cautious views elsewhere. Wells Fargo Remains a Buy on Hartford Insurance
• Positive Sentiment: Analyst target remains above the current share price: Analysts cited by American Banking News have an average target price of $145.25, suggesting potential upside based on consensus expectations. The Hartford Insurance Group Stock Has Average Target Price of $145.25
• Neutral Sentiment: Leadership changes announced: HIG named a new chief risk officer and announced broader management changes. The appointments may improve risk oversight, but investors are likely to monitor execution and continuity under the revised leadership team. Hartford Announces Leadership Changes, Names New Chief Risk Officer
• Negative Sentiment: Mixed analyst signals limit enthusiasm: Truist Securities initiated coverage with a Hold rating, while Keefe, Bruyette & Woods lowered its expectations for HIG’s stock price. These cautious calls could cap near-term gains despite the acquisition and Wells Fargo’s Buy rating. Truist Securities Initiates Coverage at Hold Keefe, Bruyette & Woods Lowers Expectations

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.