The Hartford Insurance Group (NYSE:HIG) Price Target Lowered to $155.00 at Barclays

The Hartford Insurance Group (NYSE:HIG) had its price target decreased by stock analysts at Barclays from $156.00 to $155.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price objective indicates a potential upside of 20.52% from the company’s previous close.

A number of other research firms also recently commented on HIG. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Mizuho decreased their target price on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Piper Sandler decreased their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday. Cantor Fitzgerald decreased their target price 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, April 9th. Finally, Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $147.31.

The Hartford Insurance Group Price Performance

HIG traded up $0.21 during trading on Friday, reaching $128.61. 390,737 shares of the stock were exchanged, compared to its average volume of 1,602,202. The business’s 50 day moving average price is $134.44 and its two-hundred day moving average price is $135.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $35.26 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 2.33 and a beta of 0.47. The Hartford Insurance Group has a 1 year low of $119.61 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, equities research analysts anticipate that The Hartford Insurance Group will post 13.12 earnings per share for the current year.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Pacific Financial purchased a new position in The Hartford Insurance Group during the first quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group during the third quarter worth about $26,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group during the third quarter worth about $29,000. Phillip James Consulting Co. purchased a new position in The Hartford Insurance Group during the first quarter worth about $29,000. Finally, Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group during the third quarter worth about $29,000. 93.42% of the stock is currently 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.