The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $160.00 at Keefe, Bruyette & Woods

The Hartford Insurance Group (NYSE:HIG) had its price objective upped by investment analysts at Keefe, Bruyette & Woods from $145.00 to $160.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 17.45% from the company’s previous close.

A number of other research firms also recently weighed in on HIG. Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Morgan Stanley upped their price target on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Piper Sandler raised their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.33.

The Hartford Insurance Group Trading Down 1.1%

NYSE HIG traded down $1.52 during trading on Tuesday, hitting $136.23. The company had a trading volume of 393,746 shares, compared to its average volume of 1,101,643. The company’s fifty day moving average is $133.80 and its 200-day moving average is $130.13. The Hartford Insurance Group has a one year low of $104.93 and a one year high of $140.50. 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 company has a market cap of $37.96 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61.

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

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in The Hartford Insurance Group by 707.7% during the 3rd 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. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter worth about $26,000. Princeton Global Asset Management LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter worth about $27,000. Private Wealth Management Group LLC lifted its stake in The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares during the period. Finally, United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Institutional investors own 93.42% of the company’s stock.

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.