The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $150.00 at Morgan Stanley

The Hartford Insurance Group (NYSE:HIG) had its price target boosted by Morgan Stanley from $140.00 to $150.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Thursday. Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective for the company. Piper Sandler lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Citigroup started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $140.86.

The Hartford Insurance Group Trading Down 1.4%

HIG stock opened at $132.02 on Monday. The company’s 50-day simple moving average is $129.49 and its 200-day simple moving average is $128.11. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a 52-week low of $104.93 and a 52-week high of $135.27. The firm has a market cap of $36.79 billion, a P/E ratio of 10.79, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.76. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 EPS. As a group, equities analysts forecast that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of institutional investors have recently added to or reduced their stakes in HIG. Cornerstone Planning Group LLC grew its holdings in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter worth about $27,000. Private Wealth Management Group LLC raised 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 during the period. Finally, United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at about $29,000. 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.