The Hartford Insurance Group (NYSE:HIG) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of The Hartford Insurance Group (NYSE:HIG) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other research firms have also issued reports on HIG. Mizuho increased their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Wells Fargo & Company dropped their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Royal Bank Of Canada upped their price objective 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. Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday. Finally, UBS Group decreased their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Up 1.3%

Shares of HIG opened at $139.95 on Tuesday. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $146.07. The firm’s 50 day moving average is $138.10 and its 200-day moving average is $136.60. The stock has a market capitalization of $37.91 billion, a PE ratio of 9.05, a P/E/G ratio of 3.40 and a beta of 0.46. 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 (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.41 earnings per share. Equities research analysts forecast that The Hartford Insurance Group will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Institutional Trading of The Hartford Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of HIG. Amundi boosted its stake in The Hartford Insurance Group by 3.6% in the second quarter. Amundi now owns 1,797,426 shares of the insurance provider’s stock valued at $238,195,000 after buying an additional 62,960 shares in the last quarter. HighTower Advisors LLC raised its stake in The Hartford Insurance Group by 2.4% during the second quarter. HighTower Advisors LLC now owns 23,137 shares of the insurance provider’s stock worth $3,066,000 after acquiring an additional 536 shares in the last quarter. California State Teachers Retirement System raised its stake in The Hartford Insurance Group by 14,253.4% during the second quarter. California State Teachers Retirement System now owns 54,248,255 shares of the insurance provider’s stock worth $7,188,979,000 after acquiring an additional 53,870,308 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of The Hartford Insurance Group by 6.4% in the second quarter. Wedmont Private Capital now owns 5,169 shares of the insurance provider’s stock worth $717,000 after acquiring an additional 310 shares during the last quarter. Finally, Saudi Central Bank lifted its holdings in shares of The Hartford Insurance Group by 87.2% in the second quarter. Saudi Central Bank now owns 19,252 shares of the insurance provider’s stock worth $2,551,000 after acquiring an additional 8,967 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Company Profile

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.