The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

The Hartford Insurance Group (NYSE:HIG) had its target price lifted by stock analysts at Keefe, Bruyette & Woods from $143.00 to $144.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 2.82% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Piper Sandler reissued a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Barclays reduced their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Cantor Fitzgerald increased their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Mizuho boosted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $149.06.

The Hartford Insurance Group Stock Down 0.3%

NYSE HIG opened at $140.06 on Tuesday. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $144.50. The company has a market capitalization of $37.94 billion, a P/E ratio of 9.05, a PEG ratio of 3.83 and a beta of 0.47. The company’s 50 day simple moving average is $133.90 and its 200 day simple moving average is $135.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. Equities research analysts expect that The Hartford Insurance Group will post 12.69 earnings per share for the current fiscal year.

Insider Activity at The Hartford Insurance Group

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

Institutional Investors Weigh In On The Hartford Insurance Group

Hedge funds have recently bought and sold shares of the business. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new position in The Hartford Insurance Group during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC increased its stake in The Hartford Insurance Group by 45.3% in the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after buying an additional 87 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.