The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $142.00

The Hartford Insurance Group (NYSE:HIG) had its target price upped by JPMorgan Chase & Co. from $140.00 to $142.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Several other research analysts also recently weighed in on HIG. Raymond James Financial upped their target price on The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Morgan Stanley upped their price objective on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. UBS Group increased their price objective on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods cut their target price on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.25.

The Hartford Insurance Group Stock Down 0.2%

HIG opened at $124.36 on Tuesday. The company has a fifty day moving average of $125.17 and a two-hundred day moving average of $120.51. The stock has a market capitalization of $34.97 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.25 and a beta of 0.69. The Hartford Insurance Group has a fifty-two week low of $103.96 and a fifty-two week high of $132.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The Hartford Insurance Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. On average, research analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 18.86%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. New Age Alpha Advisors LLC boosted its holdings in The Hartford Insurance Group by 3,110.5% in the 4th quarter. New Age Alpha Advisors LLC now owns 4,880 shares of the insurance provider’s stock valued at $534,000 after purchasing an additional 4,728 shares during the last quarter. Allstate Corp acquired a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $952,000. RWA Wealth Partners LLC purchased a new position in The Hartford Insurance Group in the fourth quarter worth approximately $202,000. Summit Financial LLC grew its position in The Hartford Insurance Group by 17.8% in the fourth quarter. Summit Financial LLC now owns 6,839 shares of the insurance provider’s stock worth $751,000 after acquiring an additional 1,033 shares during the period. Finally, National Bank of Canada FI increased its stake in The Hartford Insurance Group by 119.3% during the fourth quarter. National Bank of Canada FI now owns 373,919 shares of the insurance provider’s stock worth $40,909,000 after acquiring an additional 203,447 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.