Brokerages Set The Hartford Insurance Group, Inc. (NYSE:HIG) Price Target at $147.94

The Hartford Insurance Group, Inc. (NYSE:HIG) has earned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $148.1250.

Several analysts have recently issued reports on the stock. 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. Mizuho began coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price objective for the company. 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. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target on the stock. Finally, Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd.

Insider Activity at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $26,574,986.97. This represents a 50.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group 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 of the company’s stock, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 338,247 shares of company stock worth $46,587,520 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. Norges Bank bought a new stake in The Hartford Insurance Group in the second quarter worth $506,329,000. Franklin Resources Inc. lifted its position in The Hartford Insurance Group by 51.5% during the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after purchasing an additional 1,111,659 shares during the last quarter. Danske Bank A S purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth $91,398,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after buying an additional 633,592 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $139.43 on Thursday. The Hartford Insurance Group has a twelve month low of $107.49 and a twelve month high of $144.50. The company has a market cap of $38.85 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.10 and a beta of 0.61. The business’s 50 day moving average price is $135.18 and its two-hundred day moving average price is $131.98. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.84. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.94 earnings per share. On average, analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current year.

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.