The Hartford Insurance Group (NYSE:HIG) Sets New 52-Week High Following Analyst Upgrade

The Hartford Insurance Group, Inc. (NYSE:HIG) hit a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $140.00 to $142.00. Morgan Stanley currently has an equal weight rating on the stock. The Hartford Insurance Group traded as high as $140.70 and last traded at $140.2880, with a volume of 66602 shares traded. The stock had previously closed at $138.44.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Piper Sandler increased their price target on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Roth Mkm lifted their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Mizuho initiated coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.63.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. National Pension Service boosted its holdings in shares of The Hartford Insurance Group by 6.7% during the third quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock valued at $67,973,000 after acquiring an additional 31,912 shares during the period. New York State Common Retirement Fund lifted its position in The Hartford Insurance Group by 12.0% in the 2nd quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock valued at $26,546,000 after purchasing an additional 22,500 shares during the last quarter. Nordea Investment Management AB boosted its stake in The Hartford Insurance Group by 5.3% during the 3rd quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock valued at $570,328,000 after purchasing an additional 215,941 shares during the period. Capital Fund Management S.A. grew its position in The Hartford Insurance Group by 94.9% in the 2nd quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock worth $17,805,000 after purchasing an additional 68,351 shares during the last quarter. Finally, Vest Financial LLC grew its position in The Hartford Insurance Group by 7.5% in the 3rd quarter. Vest Financial LLC now owns 358,916 shares of the insurance provider’s stock worth $47,876,000 after purchasing an additional 25,041 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 1.3%

The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm’s 50 day simple moving average is $134.83 and its 200 day simple moving average is $131.46. The company has a market cap of $39.06 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $2.94 EPS. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

About The Hartford Insurance Group

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.