The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

The Hartford Insurance Group (NYSE:HIG) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $149.00 to $152.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.82% from the company’s current price.

HIG has been the subject of several other research reports. Piper Sandler reissued a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Cantor Fitzgerald lifted their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Bank of America boosted 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 research report on Tuesday, April 14th. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $148.75.

The Hartford Insurance Group Stock Up 0.5%

Shares of HIG stock traded up $0.72 during trading hours on Monday, reaching $140.98. 193,400 shares of the company’s stock were exchanged, compared to its average volume of 1,617,382. The stock’s 50 day moving average is $133.04 and its 200-day moving average is $135.38. The company has a market cap of $38.65 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 3.81 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a fifty-two week low of $120.33 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business earned $2.20 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts predict that The Hartford Insurance Group will post 12.74 earnings per share for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC acquired a new stake in The Hartford Insurance Group during the 1st quarter worth about $207,000. NewEdge Advisors LLC lifted its holdings in shares of The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after buying an additional 886 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after buying an additional 6,285 shares during the last quarter. HUB Investment Partners LLC grew its holdings in The Hartford Insurance Group by 9.8% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after acquiring an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after acquiring an additional 39,220 shares during the period. 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.