The Hartford Insurance Group (NYSE:HIG) Cut to Neutral at Mizuho

Mizuho downgraded shares of The Hartford Insurance Group (NYSE:HIG) from an outperform rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. Mizuho currently has $154.00 price objective on the insurance provider’s stock, down from their prior price objective of $163.00.

Several other research firms have also recently issued reports on HIG. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, September 4th. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Piper Sandler restated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $149.07.

The Hartford Insurance Group Stock Down 1.0%

HIG stock opened at $131.84 on Wednesday. The Hartford Insurance Group has a 1-year low of $120.33 and a 1-year high of $146.07. The business has a fifty day moving average price of $138.94 and a 200-day moving average price of $136.09. 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 $35.71 billion, a P/E ratio of 8.52, a P/E/G ratio of 2.34 and a beta of 0.45.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating 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 company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm posted $3.41 earnings per share. The Hartford Insurance Group’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that The Hartford Insurance Group will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its holdings in The Hartford Insurance Group by 0.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 26,848 shares of the insurance provider’s stock worth $3,558,000 after acquiring an additional 190 shares in the last quarter. MCF Advisors LLC lifted its holdings in The Hartford Insurance Group by 11.4% during the second quarter. MCF Advisors LLC now owns 6,057 shares of the insurance provider’s stock valued at $806,000 after purchasing an additional 619 shares in the last quarter. National Pension Service boosted its position in shares of The Hartford Insurance Group by 4.9% in the second quarter. National Pension Service now owns 554,720 shares of the insurance provider’s stock worth $73,511,000 after purchasing an additional 26,060 shares during the period. WINTON GROUP Ltd boosted its position in shares of The Hartford Insurance Group by 12.8% in the second quarter. WINTON GROUP Ltd now owns 3,000 shares of the insurance provider’s stock worth $398,000 after purchasing an additional 340 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of The Hartford Insurance Group by 262.4% in the second quarter. Engineers Gate Manager LP now owns 61,198 shares of the insurance provider’s stock worth $8,110,000 after purchasing an additional 44,310 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Company Profile

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.