The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $138.00
by Doug Wharley · The Cerbat GemThe Hartford Insurance Group (NYSE:HIG – Free Report) had its price objective upped by Bank of America from $136.00 to $138.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.
Other analysts also recently issued research reports about the company. Barclays dropped their price target on The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Piper Sandler upped 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. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Cantor Fitzgerald lowered 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 note on Thursday, April 9th. Finally, Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.56.
Check Out Our Latest Analysis on The Hartford Insurance Group
The Hartford Insurance Group Stock Down 0.4%
The Hartford Insurance Group stock opened at $138.14 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The business’s 50-day simple moving average is $138.03 and its two-hundred day simple moving average is $134.51. The company has a market cap of $38.11 billion, a PE ratio of 10.36, a PEG ratio of 1.29 and a beta of 0.53. The Hartford Insurance Group has a fifty-two week low of $113.27 and a fifty-two week high of $144.50.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.94 EPS. Equities analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current year.
The Hartford Insurance Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is presently 17.99%.
Insider Transactions at The Hartford Insurance Group
In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 349,282 shares of company stock valued at $48,184,324 in the last ninety days. 1.50% of the stock is currently owned by insiders.
Hedge Funds Weigh In On The Hartford Insurance Group
A number of hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. State Street Corp raised its holdings in shares of The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after acquiring an additional 55,983 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of The Hartford Insurance Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after acquiring an additional 34,274 shares during the last quarter. Invesco Ltd. raised 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 during the last quarter. Finally, Norges Bank acquired a new position in shares of The Hartford Insurance Group during the fourth quarter valued at approximately $611,724,000. 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.