The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $153.00
by Amy Steele · The Cerbat GemThe Hartford Insurance Group (NYSE:HIG – Free Report) had its price target hoisted by Wells Fargo & Company from $140.00 to $153.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.
Several other equities analysts have also recently issued reports on the company. UBS Group boosted their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Morgan Stanley boosted their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Wolfe Research started coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $148.47.
View Our Latest Stock Analysis on The Hartford Insurance Group
The Hartford Insurance Group Price Performance
HIG stock opened at $130.78 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $135.30 and its two-hundred day moving average price is $130.56. The stock has a market capitalization of $36.44 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.19 and a beta of 0.61. The Hartford Insurance Group has a 12-month low of $105.98 and a 12-month high of $140.50.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $1.05 billion for 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 Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $2.53 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current year.
The Hartford Insurance Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were paid a dividend of $0.60 per share. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, December 1st. The Hartford Insurance Group’s payout ratio is 19.61%.
Insider Activity at The Hartford Insurance Group
In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is currently owned by company insiders.
Institutional Trading of The Hartford Insurance Group
Several institutional investors have recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group in the third quarter worth about $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. Cornerstone Planning Group LLC raised its holdings in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the last quarter. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Finally, United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the 3rd quarter valued at $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.
About The Hartford Insurance Group
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.
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