The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $145.00

The Hartford Insurance Group (NYSE:HIG) had its target price increased by Evercore ISI from $137.00 to $145.00 in a report published on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the insurance provider’s stock.

A number of other research analysts have also commented on the company. Wolfe Research assumed coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 29th. Finally, Mizuho initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $147.07.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $136.20 on Wednesday. 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 Hartford Insurance Group has a 1-year low of $104.93 and a 1-year high of $140.50. The stock’s fifty day simple moving average is $134.88 and its 200-day simple moving average is $130.36. The company has a market capitalization of $37.95 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.25 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 earnings per share. On average, sell-side analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were issued a dividend of $0.60 per share. The ex-dividend date was Monday, December 1st. This is a boost 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 Hartford Insurance Group’s dividend 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 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 transaction of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group during the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its position 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 valued at $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Finally, United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by 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.