The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $143.00

The Hartford Insurance Group (NYSE:HIG) had its price objective boosted by JPMorgan Chase & Co. from $142.00 to $143.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

HIG has been the subject of a number of other research reports. Wolfe Research assumed coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Piper Sandler increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.07.

The Hartford Insurance Group Price Performance

HIG opened at $128.89 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group has a 12 month low of $104.93 and a 12 month high of $135.17. The company has a fifty day simple moving average of $131.46 and a 200 day simple moving average of $126.35. The stock has a market cap of $36.24 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.24 and a beta of 0.69.

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

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were issued a $0.52 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 18.86%.

Insider Activity

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds have recently bought and sold shares of the company. NorthRock Partners LLC lifted its stake in The Hartford Insurance Group by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 80 shares during the last quarter. Armstrong Advisory Group Inc. lifted its stake in The Hartford Insurance Group by 5.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 80 shares during the last quarter. Wayfinding Financial LLC lifted its stake in The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after purchasing an additional 84 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 85 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its stake in The Hartford Insurance Group by 4.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after purchasing an additional 86 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.