Citi analyst Matthew Heimermann initiated coverage of Hartford Financial (HIG) with a Neutral rating and $138 price target. The firm rolled out coverage in North America insurance, expecting pricing and reinvestment tailwinds to ease but for earnings to remain resilient. Citi sees more opportunities for upside in the shares of underwriters relative to brokers. Its top ideas include Arch Capital (ACGL), Aspen Insurance (AHL), Brown & Brown (BRO), Chubb (CB), Ryan Specialty (RYAN) and RenaissanceRe (RNR).

Hartford Financial initiated with a Neutral at Citi

Citi analyst Matthew Heimermann has initiated coverage of Hartford Financial (HIG) with a Neutral rating and a $138 price target. The firm expects pricing and reinvestment tailwinds to support earnings, though it anticipates a more favorable outlook for underwriters compared to brokers. Citi highlights several insurance companies as top investment ideas, including Arch Capital, Aspen Insurance, Brown & Brown, Chubb, Ryan Specialty, and RenaissanceRe.