The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $160.00

The Hartford Insurance Group (NYSE:HIG) had its price target hoisted by Keefe, Bruyette & Woods from $145.00 to $160.00 in a research report released on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Several other brokerages have also recently issued reports on HIG. Wells Fargo & Company decreased their price target on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Evercore ISI lifted their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Argus upped their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Finally, Wolfe Research initiated coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Two 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.07.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $137.79 on Tuesday. 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 stock has a market cap of $38.40 billion, a PE ratio of 11.26, a PEG ratio of 1.23 and a beta of 0.61. The Hartford Insurance Group has a 12-month low of $104.93 and a 12-month high of $140.50. The business has a 50-day simple moving average of $134.64 and a two-hundred day simple moving average of $130.30.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the business posted $2.53 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction 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 $2,252,344. This trade represents a 29.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction 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 in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of The Hartford Insurance Group by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock worth $4,714,571,000 after purchasing an additional 156,807 shares in the last quarter. State Street Corp boosted its holdings in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Geode Capital Management LLC grew its stake in The Hartford Insurance Group by 0.8% in the second quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock valued at $943,448,000 after acquiring an additional 57,539 shares during the period. Invesco Ltd. increased its holdings in shares of The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after acquiring an additional 496,821 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of The Hartford Insurance Group by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after purchasing an additional 81,712 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.