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

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

Several other equities analysts have also commented on HIG. Evercore increased their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Piper Sandler raised their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Roth Mkm lifted their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Mizuho assumed coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.25.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $134.43 on Friday. The firm has a market capitalization of $37.09 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.28 and a beta of 0.60. 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 12 month low of $107.49 and a 12 month high of $144.50. The business’s 50-day moving average price is $137.00 and its 200-day moving average price is $134.01.

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

Insider Buying and Selling at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction dated Monday, February 2nd. The shares were 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 directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 384,621 shares of company stock worth $53,010,925. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its stake in shares of The Hartford Insurance Group by 137.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 118,665 shares of the insurance provider’s stock valued at $16,352,000 after buying an additional 68,765 shares during the period. World Investment Advisors boosted its holdings in The Hartford Insurance Group by 59.4% in the fourth quarter. World Investment Advisors now owns 6,304 shares of the insurance provider’s stock valued at $869,000 after acquiring an additional 2,349 shares in the last quarter. Larry Mathis Financial Planning LLC bought a new stake in The Hartford Insurance Group in the fourth quarter valued at $234,000. Advisortrust Partners LLC purchased a new position in The Hartford Insurance Group during the 4th quarter valued at $268,000. Finally, Corient Private Wealth LLC increased its position in The Hartford Insurance Group by 5.7% during the 4th quarter. Corient Private Wealth LLC now owns 100,753 shares of the insurance provider’s stock valued at $13,884,000 after purchasing an additional 5,423 shares during the period. 93.42% of the stock is currently owned by institutional investors.

About The Hartford Insurance Group

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.