The Hartford Insurance Group (NYSE:HIG) Given New $155.00 Price Target at Argus

by · The Markets Daily

The Hartford Insurance Group (NYSE:HIG – Free Report) had its price target lifted by Argus from $143.00 to $155.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other analysts have also weighed in on the company. Wolfe Research assumed coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald began coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price target on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, November 19th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a research note on Tuesday. They set a “sector perform” rating and a $145.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $143.13.

View Our Latest Stock Report on HIG

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $137.55 on Tuesday. The firm’s 50 day simple moving average is $129.92 and its 200 day simple moving average is $128.45. The firm has a market capitalization of $38.33 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.19 and a beta of 0.69. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a 1 year low of $104.93 and a 1 year high of $138.64.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The firm had revenue of $1.05 billion during 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 company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 earnings per share. As a group, research analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group in the 3rd quarter worth about $26,000. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC grew its stake in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the period. Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group in the third quarter worth approximately $29,000. Finally, United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Company Profile

(Get Free Report)

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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