The Hartford Insurance Group (NYSE:HIG) Price Target Cut to $154.00 by Analysts at Wells Fargo & Company

The Hartford Insurance Group (NYSE:HIG) had its price objective reduced by equities research analysts at Wells Fargo & Company from $165.00 to $154.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 18.84% from the company’s previous close.

A number of other analysts have also issued reports on HIG. Cantor Fitzgerald decreased their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. UBS Group dropped 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 research note on Monday, April 27th. Mizuho decreased their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America boosted their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Barclays dropped their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.19.

The Hartford Insurance Group Stock Up 1.8%

Shares of NYSE HIG opened at $129.59 on Friday. The firm has a market cap of $35.52 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a 1 year low of $119.61 and a 1 year high of $144.50. The firm’s 50 day moving average price is $134.93 and its 200 day moving average price is $135.87.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hartford Insurance Group will post 13.17 earnings per share for the current year.

Insider Activity

In related news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in shares of The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares in the last quarter. First Pacific Financial acquired a new stake in The Hartford Insurance Group during the 1st quarter valued at $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter valued at $26,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the 3rd quarter worth $29,000. Finally, Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group in the 1st quarter worth $29,000. Hedge funds and other 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.