Mizuho Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its target price boosted by stock analysts at Mizuho from $154.00 to $163.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Mizuho’s target price points to a potential upside of 17.46% from the company’s current price.

Several other research analysts have also recently weighed in on HIG. Cantor Fitzgerald lowered their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. UBS Group cut their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Bank of America raised their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $147.94.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $138.77 on Thursday. The company’s 50-day moving average is $132.58 and its 200-day moving average is $135.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $38.04 billion, a PE ratio of 9.79, a PEG ratio of 2.56 and a beta of 0.47. The Hartford Insurance Group has a fifty-two week low of $119.61 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. Equities analysts forecast that The Hartford Insurance Group will post 12.9 EPS for the current year.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Hedge funds have recently added to or reduced their stakes in the company. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at $26,000. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group during the 3rd quarter valued at $29,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $29,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth approximately $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.