The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $138.00 at Bank of America

The Hartford Insurance Group (NYSE:HIG) had its price objective boosted by Bank of America from $136.00 to $138.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Bank of America currently has a neutral rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Mizuho began coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target on the stock. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Finally, Cantor Fitzgerald lowered their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.56.

The Hartford Insurance Group Trading Down 0.2%

NYSE HIG opened at $138.84 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $38.30 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The company’s 50-day simple moving average is $138.15 and its two-hundred day simple moving average is $134.46. The Hartford Insurance Group has a one year low of $113.27 and a one year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted its 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 net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the firm posted $2.94 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 349,282 shares of company stock valued at $48,184,324. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Haven Private LLC lifted its stake in The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock valued at $930,000 after acquiring an additional 71 shares during the period. Signal Advisors Wealth LLC lifted its stake in The Hartford Insurance Group by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock valued at $240,000 after acquiring an additional 75 shares during the period. GW&K Investment Management LLC lifted its stake in The Hartford Insurance Group by 40.3% during the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 77 shares during the period. Kestra Advisory Services LLC lifted its stake in The Hartford Insurance Group by 0.4% during the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after acquiring an additional 79 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its stake in The Hartford Insurance Group by 5.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 80 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.