The Hartford Insurance Group (NYSE:HIG) Price Target Cut to $135.00 by Analysts at Morgan Stanley

The Hartford Insurance Group (NYSE:HIG) had its target price cut by equities researchers at Morgan Stanley from $145.00 to $135.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 6.55% from the stock’s current price.

HIG has been the topic of a number of other reports. Cantor Fitzgerald increased their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Piper Sandler reiterated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $148.20.

The Hartford Insurance Group Trading Up 0.4%

Shares of The Hartford Insurance Group stock traded up $0.49 during trading on Tuesday, reaching $126.70. 374,354 shares of the company were exchanged, compared to its average volume of 1,627,390. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a twelve month low of $120.33 and a twelve month high of $146.07. The business has a 50-day moving average price of $136.01 and a 200-day moving average price of $135.20. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 2.08 and a beta of 0.49.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm posted $3.41 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Insurance Group will post 12.79 EPS for the current fiscal year.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds have recently made changes to their positions in HIG. BlackRock Inc. acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $4,067,052,000. Bank of America Corp DE acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $350,777,000. Legal & General Group Plc bought a new position in shares of The Hartford Insurance Group in the second quarter valued at $346,877,000. Bank of New York Mellon Corp acquired a new position in The Hartford Insurance Group during the second quarter worth $337,907,000. Finally, Deutsche Bank AG bought a new stake in The Hartford Insurance Group during the second quarter worth $145,575,000. 93.42% of the stock is owned by institutional investors.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.