The Hartford Insurance Group (NYSE:HIG) Given New $160.00 Price Target at Keefe, Bruyette & Woods

The Hartford Insurance Group (NYSE:HIG) had its target price boosted by Keefe, Bruyette & Woods from $145.00 to $160.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

HIG has been the topic of several other reports. Morgan Stanley lifted their price target on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price on the stock. Piper Sandler upped their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Mizuho began coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target for the company. Finally, Evercore ISI lifted their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.33.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $136.78 on Tuesday. The Hartford Insurance Group has a 1 year low of $104.93 and a 1 year high of $140.50. The stock has a market capitalization of $38.11 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.23 and a beta of 0.61. The company’s 50-day moving average is $134.08 and its 200 day moving average is $130.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the business posted $2.53 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were paid a dividend of $0.60 per share. The ex-dividend date was Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HIG. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC raised its position in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group during the 3rd quarter valued at $29,000. Finally, United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth $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, 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.