Analysts Set The Hartford Insurance Group, Inc. (NYSE:HIG) Price Target at $147.31

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $148.50.

Several equities analysts have commented on the stock. UBS Group lowered their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Bank of America upped their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Mizuho increased their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Barclays dropped their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th.

The Hartford Insurance Group Trading Down 0.3%

NYSE:HIG opened at $138.32 on Friday. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 2.54 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a 1 year low of $119.61 and a 1 year high of $144.50. The business has a fifty day moving average of $132.57 and a 200-day moving average of $135.42.

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

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’s 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 sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

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

The Hartford Insurance Group News Roundup

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Wells Fargo raised its price target on HIG to $165 from $154 and reiterated an overweight rating, signaling about 19% upside from current levels. Benzinga report on Wells Fargo price target increase
• Positive Sentiment: Mizuho also boosted its target to $163 from $154 and kept an outperform rating, adding to the positive analyst sentiment around the stock. Benzinga report on Mizuho price target increase
• Positive Sentiment: Cantor Fitzgerald increased its target to $158 from $156 and maintained an overweight rating, reinforcing expectations for further upside. Benzinga report on Cantor Fitzgerald price target increase
• Neutral Sentiment: Keefe, Bruyette & Woods issued a positive forecast for HIG, but its latest target of $143 and market-perform rating were less bullish than the other recent calls. KBW report
• Neutral Sentiment: Zacks highlighted surging implied volatility in HIG options, suggesting traders are positioning for a larger move, though this does not clearly point to direction by itself. Zacks article on implied volatility

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.