The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Mizuho Analyst Says
by Scott Moore · The Cerbat GemThe Hartford Insurance Group (NYSE:HIG – Get Free Report) had its target price lifted by Mizuho from $158.00 to $159.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Mizuho’s target price would suggest a potential upside of 14.64% from the stock’s previous close.
Several other analysts have also weighed in on HIG. Citigroup upped their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Barclays decreased their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Roth Mkm boosted their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.31.
The Hartford Insurance Group Trading Up 1.5%
Shares of NYSE:HIG opened at $138.70 on Tuesday. The company has a market cap of $38.02 billion, a PE ratio of 9.75, a P/E/G ratio of 1.25 and a beta of 0.53. The company’s 50 day moving average is $137.57 and its two-hundred day moving average is $134.81. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 earnings per share. Equities analysts predict that The Hartford Insurance Group will post 13.36 earnings per share for the current fiscal year.
Insider Transactions at The Hartford Insurance Group
In other news, CEO Christopher Swift sold 201,938 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was 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. The trade was a 50.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the 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 sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 349,282 shares of company stock worth $48,184,324 in the last three months. 1.30% of the stock is currently owned by corporate insiders.
Institutional Trading of The Hartford Insurance Group
A number of hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its position in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. Norges Bank purchased a new position in The Hartford Insurance Group during the fourth quarter valued at approximately $611,724,000. Allianz Asset Management GmbH lifted its position in The Hartford Insurance Group by 131.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after buying an additional 925,789 shares in the last quarter. Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $91,398,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after acquiring an additional 633,592 shares in the last quarter. Hedge funds and other 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.