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

The Hartford Insurance Group (NYSE:HIG) had its price target increased by Cantor Fitzgerald from $144.00 to $145.00 in a research report report published on Wednesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods upped their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. UBS Group reduced their price target on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley decreased their price target on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $146.67.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $128.97 on Wednesday. The business has a 50-day simple moving average of $134.76 and a 200 day simple moving average of $135.06. The Hartford Insurance Group has a one year low of $120.33 and a one year high of $146.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $34.93 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.14 and a beta of 0.49.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping 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 business 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 company earned $3.41 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts anticipate that The Hartford Insurance Group will post 12.81 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

Institutional Investors Weigh In On The Hartford Insurance Group

Institutional investors have recently bought and sold shares of the stock. Koshinski Asset Management Inc. lifted its stake in The Hartford Insurance Group by 3.8% in the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 82 shares during the last quarter. Versant Capital Management Inc grew its holdings in The Hartford Insurance Group by 6.4% during the second quarter. Versant Capital Management Inc now owns 1,443 shares of the insurance provider’s stock valued at $191,000 after purchasing an additional 87 shares during the period. AdvisorNet Financial Inc increased its position in The Hartford Insurance Group by 2.8% in the first quarter. AdvisorNet Financial Inc now owns 3,509 shares of the insurance provider’s stock worth $475,000 after buying an additional 94 shares during the last quarter. CX Institutional increased its position in The Hartford Insurance Group by 1.0% in the third quarter. CX Institutional now owns 9,217 shares of the insurance provider’s stock worth $1,128,000 after buying an additional 94 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of The Hartford Insurance Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,953 shares of the insurance provider’s stock valued at $4,321,000 after buying an additional 100 shares during the period. Institutional investors own 93.42% of the company’s stock.

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.