The Hartford Insurance Group’s (HIG) “Neutral” Rating Reaffirmed at Piper Sandler

The Hartford Insurance Group (NYSE:HIG)‘s stock had its “neutral” rating reissued by equities research analysts at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $146.00 target price on the insurance provider’s stock, down from their previous target price of $148.00. Piper Sandler’s price objective suggests a potential upside of 5.63% from the stock’s current price.

Several other analysts also recently weighed in on the company. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Mizuho upped their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, UBS Group cut their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average price target of $148.38.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $138.22 on Wednesday. The firm has a market capitalization of $37.89 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 3.22 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group has a 1-year low of $119.61 and a 1-year high of $144.50. The company’s fifty day moving average price is $132.77 and its 200-day moving average price is $135.42.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results 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 firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. On average, equities research analysts predict that The Hartford Insurance Group will post 12.81 EPS for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

A number of hedge funds have recently modified their holdings of HIG. First Pacific Financial acquired a new position in The Hartford Insurance Group in the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.