The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $160.00

The Hartford Insurance Group (NYSE:HIG) had its target price hoisted by Wells Fargo & Company from $156.00 to $160.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Citigroup increased their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Mizuho started coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective for the company. Evercore increased their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Finally, Roth Mkm increased their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.33.

The Hartford Insurance Group Stock Down 2.2%

HIG opened at $137.36 on Thursday. The company has a market cap of $37.89 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.33 and a beta of 0.53. The business’s 50-day moving average price is $138.10 and its 200-day moving average price is $134.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a 12 month low of $112.81 and a 12 month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the company posted $2.94 EPS. The Hartford Insurance Group’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts expect that The Hartford Insurance Group will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 17.99%.

Insider Buying and Selling

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer owned 194,817 shares in the company, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 349,282 shares of company stock worth $48,184,324 in the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in shares of The Hartford Insurance Group by 137.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 118,665 shares of the insurance provider’s stock worth $16,352,000 after acquiring an additional 68,765 shares during the period. World Investment Advisors grew its stake in shares of The Hartford Insurance Group by 59.4% in the 4th quarter. World Investment Advisors now owns 6,304 shares of the insurance provider’s stock worth $869,000 after buying an additional 2,349 shares during the last quarter. Larry Mathis Financial Planning LLC bought a new position in The Hartford Insurance Group during the 4th quarter valued at approximately $234,000. Advisortrust Partners LLC bought a new position in The Hartford Insurance Group during the 4th quarter valued at approximately $268,000. Finally, Corient Private Wealth LLC increased its position in The Hartford Insurance Group by 5.7% during the 4th quarter. Corient Private Wealth LLC now owns 100,753 shares of the insurance provider’s stock valued at $13,884,000 after buying an additional 5,423 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Company Profile

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.