The Hartford Insurance Group (NYSE:HIG) Given New $142.00 Price Target at Morgan Stanley

The Hartford Insurance Group (NYSE:HIG) had its price objective upped by Morgan Stanley from $140.00 to $142.00 in a research report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other research analysts have also recently issued reports on the company. Piper Sandler boosted their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Mizuho assumed coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective for the company. Royal Bank Of Canada initiated 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.63.

The Hartford Insurance Group Trading Up 0.8%

HIG opened at $138.32 on Tuesday. The firm’s fifty day moving average is $134.83 and its two-hundred day moving average is $131.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The firm has a market cap of $38.54 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61. The Hartford Insurance Group has a twelve month low of $107.49 and a twelve month high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the business earned $2.94 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. Equities research analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares of the company’s stock, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIG. Cornerstone Planning Group LLC grew its holdings in shares of 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 acquiring an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the third quarter valued at approximately $26,000. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group in the third quarter valued at approximately $27,000. Private Wealth Management Group LLC increased its position in shares of The Hartford Insurance Group by 151.1% during the 2nd 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 last quarter. Finally, United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.