Royal Bank Of Canada Initiates Coverage on The Hartford Insurance Group (NYSE:HIG)

Equities research analysts at Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group (NYSE:HIG) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “sector perform” rating and a $145.00 price target on the insurance provider’s stock. Royal Bank Of Canada’s target price points to a potential upside of 4.94% from the stock’s previous close.

A number of other equities research analysts have also weighed in on HIG. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, November 19th. Wolfe Research started coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Evercore ISI boosted their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company decreased their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.29.

The Hartford Insurance Group Stock Up 1.1%

NYSE:HIG traded up $1.54 during midday trading on Tuesday, reaching $138.18. The company had a trading volume of 157,484 shares, compared to its average volume of 1,589,949. The Hartford Insurance Group has a 12-month low of $104.93 and a 12-month high of $138.64. The stock’s fifty day simple moving average is $129.76 and its 200-day simple moving average is $128.38. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The Hartford Insurance Group’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.53 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AE Wealth Management LLC grew its position in shares of The Hartford Insurance Group by 19.7% during the 1st quarter. AE Wealth Management LLC now owns 2,403 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 396 shares during the period. Cetera Investment Advisers lifted its holdings in The Hartford Insurance Group by 13.4% during the first quarter. Cetera Investment Advisers now owns 62,049 shares of the insurance provider’s stock valued at $7,677,000 after purchasing an additional 7,314 shares during the last quarter. HB Wealth Management LLC boosted its position in The Hartford Insurance Group by 52.3% during the first quarter. HB Wealth Management LLC now owns 7,588 shares of the insurance provider’s stock worth $939,000 after purchasing an additional 2,606 shares during the period. LPL Financial LLC increased its stake in shares of The Hartford Insurance Group by 2.6% in the first quarter. LPL Financial LLC now owns 211,874 shares of the insurance provider’s stock worth $26,215,000 after purchasing an additional 5,295 shares in the last quarter. Finally, Maridea Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $451,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.