BUZZ-Mizuho downgrades Hartford Insurance to 'neutral'

Mizuho downgrades rating on Hartford Insurance Group HIG.N to "neutral" from "outperform".

The brokerage also cuts its price target on the property and casualty insurer's stock to $154 from $163, which represents a 13.2% upside to the stock's last close.

Mizuho says it expects pressure on HIG's underwriting results.

It added that "we believe the P&C market is in early stages of softening, with blended commercial lines' written renewal pricing below loss trends".

Including session's moves, shares are down 1.4% YTD.