The Hartford Insurance Group (NYSE:HIG) Given New $137.00 Price Target at Evercore ISI

The Hartford Insurance Group (NYSE:HIG) had its target price increased by Evercore ISI from $133.00 to $137.00 in a report published on Wednesday morning,Benzinga reports. They currently have an in-line rating on the insurance provider’s stock.

A number of other analysts have also issued reports on the company. UBS Group lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Barclays dropped their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price target for the company. Morgan Stanley upped their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average target price of $137.93.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $133.02 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50 day moving average price is $130.25 and its 200-day moving average price is $125.74. The firm has a market capitalization of $37.40 billion, a PE ratio of 12.06, a P/E/G ratio of 1.29 and a beta of 0.69. The Hartford Insurance Group has a 1 year low of $104.93 and a 1 year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion for 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 business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC lifted its stake in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 99 shares in the last quarter. Park Square Financial Group LLC raised its stake in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at $33,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Company Profile

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.