Barclays Cuts The Hartford Insurance Group (NYSE:HIG) Price Target to $159.00

The Hartford Insurance Group (NYSE:HIG) had its price target dropped by investment analysts at Barclays from $162.00 to $159.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s target price suggests a potential upside of 15.05% from the stock’s current price.

A number of other analysts have also issued reports on HIG. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Citigroup upped their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Morgan Stanley increased their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Piper Sandler raised their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.31.

The Hartford Insurance Group Trading Up 1.8%

Shares of The Hartford Insurance Group stock traded up $2.44 during trading hours on Wednesday, reaching $138.20. 476,546 shares of the company’s stock were exchanged, compared to its average volume of 1,555,977. The Hartford Insurance Group has a 52-week low of $108.22 and a 52-week high of $144.50. The firm has a market capitalization of $38.12 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 1.32 and a beta of 0.53. The company has a fifty day moving average of $137.73 and a 200-day moving average of $134.21. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.94 earnings per share. Sell-side analysts forecast that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. This represents a 50.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 349,282 shares of company stock worth $48,184,324. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors have recently bought and sold shares of HIG. Cornerstone Planning Group LLC grew its stake in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares during the period. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $26,000. Princeton Global Asset Management LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $27,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

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.