Hartford, Connecticut-based The Hartford Insurance Group, Inc. (HIG) provides insurance and financial services to individual and business customers. Valued at a market cap of $37.4 billion, the company offers a wide range of products, including property and casualty insurance, business insurance, personal lines insurance, group benefits, employee benefits, and investment products such as mutual funds. 

Shares of this insurance company have outpaced the broader market over the past 52 weeks. HIG has rallied 27.6% over this time frame, while the broader S&P 500 Index ($SPX) has gained 12.5%. Moreover, on a YTD basis, the stock is up 20.4%, compared to SPX’s 1.4% rise. 

Zooming in further, HIG has also outperformed the Invesco KBW Property & Casualty Insurance ETF’s (KBWP) 16.3% uptick over the past 52 weeks and 7.9% return on a YTD basis. 

On Apr. 24, HIG delivered its Q1 results, and shares of the company closed down marginally in the following trading session. Compared to the same quarter last year, its revenue grew 6.1% to $6.8 billion, driven by growth in earned premiums, fee income, and net investment income. However, its core EPS declined by 6% year over year to $2.20. The earnings dip was primarily due to higher losses and increased expenses, which offset the revenue gains across most of its reportable segments, ultimately weighing on its profitability. 

For the current fiscal year, ending in December, analysts expect HIG’s EPS to grow 7% year over year to $11.02. The company’s earnings surprise history is promising. It exceeded the consensus estimates in each of the last four quarters. 

Among the 21 analysts covering the stock, the consensus rating is a “Moderate Buy” which is based on nine “Strong Buy,” two “Moderate Buy,” and 10 “Hold” ratings. 

The configuration has remained consistent over the past three months. 

On May 19, Morgan Stanley (MS) maintained an “Equal Weight” rating on HIG and raised its price target to $130. 

The mean price target of $132.63 represents a slight premium from HIG’s current price levels, while the Street-high price target of $163 suggests an upside potential of 23.8%.