The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

The Hartford Insurance Group (NYSE:HIG) had its target price raised by analysts at Wells Fargo & Company from $156.00 to $160.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 16.48% from the company’s current price.

Several other analysts have also recently issued reports on HIG. Piper Sandler raised their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Citigroup lifted their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Cantor Fitzgerald cut their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays cut their price objective on The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $150.33.

The Hartford Insurance Group Stock Down 2.2%

NYSE HIG opened at $137.36 on Thursday. 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 stock has a market capitalization of $37.89 billion, a PE ratio of 10.30, a PEG ratio of 1.36 and a beta of 0.53. The Hartford Insurance Group has a 1 year low of $112.81 and a 1 year high of $144.50. The business’s 50-day moving average is $138.10 and its 200 day moving average is $134.33.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.84. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $2.94 earnings per share. Sell-side analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Activity at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 349,282 shares of company stock valued at $48,184,324 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Hedge funds have recently modified their holdings of the business. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $26,000. Princeton Global Asset Management LLC bought a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC boosted its holdings 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 last quarter. Sunbelt Securities Inc. bought a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Finally, United Financial Planning Group LLC bought a new position 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.