The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $146.00

The Hartford Insurance Group (NYSE:HIG) had its target price lifted by JPMorgan Chase & Co. from $143.00 to $146.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other brokerages also recently weighed in on HIG. Argus boosted their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Monday, December 29th. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Royal Bank Of Canada began coverage on The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective on the stock. Finally, Mizuho initiated coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.07.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $136.20 on Wednesday. The stock’s fifty day moving average is $134.88 and its 200-day moving average is $130.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market capitalization of $37.95 billion, a PE ratio of 11.13, a PEG ratio of 1.25 and a beta of 0.61. The Hartford Insurance Group has a 52 week low of $104.93 and a 52 week high of $140.50.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 earnings per share. Equities research analysts expect that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were given a $0.60 dividend. The ex-dividend date was Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Transactions at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were 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 directly 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 SEC filing for this sale provides additional information. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its position in shares of The Hartford Insurance Group by 2.2% during the first quarter. Integrated Wealth Concepts LLC now owns 6,822 shares of the insurance provider’s stock worth $844,000 after purchasing an additional 149 shares in the last quarter. Jones Financial Companies Lllp raised its stake in The Hartford Insurance Group by 387.8% during the 1st quarter. Jones Financial Companies Lllp now owns 21,355 shares of the insurance provider’s stock worth $2,642,000 after buying an additional 16,977 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in The Hartford Insurance Group during the first quarter worth about $207,000. Fred Alger Management LLC grew its stake in The Hartford Insurance Group by 3.1% in the first quarter. Fred Alger Management LLC now owns 35,601 shares of the insurance provider’s stock valued at $4,423,000 after acquiring an additional 1,061 shares during the period. Finally, Voleon Capital Management LP bought a new stake in shares of The Hartford Insurance Group in the first quarter worth about $610,000. 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.