The Hartford Insurance Group (NYSE:HIG – Get Free Report) was downgraded by equities researchers at Mizuho from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $154.00 price objective on the insurance provider’s stock. Mizuho’s price target suggests a potential upside of 13.21% from the stock’s previous close.
HIG has been the subject of a number of other reports. Piper Sandler reiterated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Barclays cut their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Cantor Fitzgerald boosted their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $149.07.
Read Our Latest Stock Report on HIG
The Hartford Insurance Group Price Performance
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $7.17 billion. During the same period in the prior year, the company posted $3.41 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group will post 12.8 EPS for the current year.
Institutional Investors Weigh In On The Hartford Insurance Group
Several institutional investors have recently bought and sold shares of HIG. BlackRock Inc. acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at $4,067,052,000. Geode Capital Management LLC increased its stake in shares of The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after acquiring an additional 34,274 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of The Hartford Insurance Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock worth $635,490,000 after purchasing an additional 72,448 shares in the last quarter. Norges Bank acquired a new position in shares of The Hartford Insurance Group during the 4th quarter worth $611,724,000. Finally, Bank of America Corp DE lifted its position in shares of 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 worth $518,150,000 after buying an additional 79,827 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.
About The Hartford Insurance Group
The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.
The company’s business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers’ compensation, commercial auto, general liability, property, professional liability and other coverage.
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