Keefe, Bruyette & Woods Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $142.00 to $143.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 2.93% from the stock’s current price.

Several other equities analysts have also recently commented on HIG. Cantor Fitzgerald dropped their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Wells Fargo & Company cut their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Finally, Bank of America raised their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $147.38.

The Hartford Insurance Group Price Performance

NYSE HIG traded down $0.72 during midday trading on Wednesday, hitting $138.92. The company had a trading volume of 221,289 shares, compared to its average volume of 1,626,626. The firm has a 50-day moving average price of $132.55 and a 200-day moving average price of $135.43. The company has a market capitalization of $38.08 billion, a PE ratio of 9.76, a P/E/G ratio of 2.52 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a twelve month low of $119.61 and a twelve month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. As a group, analysts anticipate that The Hartford Insurance Group will post 12.9 earnings per share for the current fiscal year.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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

Hedge funds have recently made changes to their positions in the company. First Pacific Financial bought a new position in The Hartford Insurance Group in the 1st quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter worth $26,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at $29,000. Phillip James Consulting Co. bought a new position in The Hartford Insurance Group during the 1st quarter worth $29,000. Finally, Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group during the 3rd quarter worth about $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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.