The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $142.00

The Hartford Insurance Group (NYSE:HIG) had its price target raised by analysts at Morgan Stanley from $140.00 to $142.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price points to a potential upside of 2.52% from the company’s previous close.

Several other analysts also recently issued reports on HIG. Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective for the company. Mizuho initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price for the company. Piper Sandler upped their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. UBS Group upped their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, Roth Mkm lifted their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $147.63.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock traded up $1.34 during trading on Tuesday, hitting $138.51. 368,263 shares of the stock were exchanged, compared to its average volume of 1,458,161. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The stock’s fifty day moving average is $134.81 and its 200 day moving average is $131.35. The stock has a market cap of $38.60 billion, a PE ratio of 10.35, a P/E/G ratio of 1.09 and a beta of 0.61. The Hartford Insurance Group has a 12 month low of $107.49 and a 12 month high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.94 EPS. As a group, sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds have recently modified their holdings of HIG. Cornerstone Planning Group LLC raised its stake in shares of The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the period. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group during the third quarter valued at approximately $26,000. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $27,000. Private Wealth Management Group LLC increased its holdings in shares of The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares in the last quarter. Finally, United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Institutional investors 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.