The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $146.00 at JPMorgan Chase & Co.

The Hartford Insurance Group (NYSE:HIG) had its target price raised by investment analysts at JPMorgan Chase & Co. from $143.00 to $146.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.07% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Royal Bank Of Canada started coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target on the stock. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley increased their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Finally, Wells Fargo & Company cut their target price on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.53.

The Hartford Insurance Group Trading Down 0.4%

Shares of HIG traded down $0.57 during mid-day trading on Wednesday, hitting $136.36. The company had a trading volume of 148,176 shares, compared to its average volume of 1,165,171. The stock has a market cap of $38.00 billion, a PE ratio of 11.14, a P/E/G ratio of 1.23 and a beta of 0.61. The business’s 50-day simple moving average is $134.08 and its 200-day simple moving average is $130.21. The Hartford Insurance Group has a 1-year low of $104.93 and a 1-year high of $140.50. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the business earned $2.53 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds have recently made changes to their positions in HIG. Armstrong Advisory Group Inc. lifted its position in shares of The Hartford Insurance Group by 5.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 80 shares during the period. Mather Group LLC. raised its stake in shares of The Hartford Insurance Group by 4.5% in the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 83 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of The Hartford Insurance Group by 3.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 85 shares during the last quarter. Monument Capital Management boosted its holdings in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after acquiring an additional 85 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its position in The Hartford Insurance Group by 4.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock worth $262,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

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.