The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $152.00 at JPMorgan Chase & Co.

The Hartford Insurance Group (NYSE:HIG) had its price target upped by JPMorgan Chase & Co. from $149.00 to $152.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Barclays reduced their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Bank of America increased their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Mizuho boosted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus target price of $148.75.

The Hartford Insurance Group Stock Up 0.2%

HIG stock opened at $140.54 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $133.21 and a two-hundred day moving average of $135.39. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $144.50. The company has a market cap of $38.53 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 3.81 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts forecast that The Hartford Insurance Group will post 12.74 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIG. Wedge Capital Management L L P NC boosted its holdings in The Hartford Insurance Group by 9.9% in the second quarter. Wedge Capital Management L L P NC now owns 259,897 shares of the insurance provider’s stock valued at $34,442,000 after purchasing an additional 23,441 shares in the last quarter. Tema ETFs LLC raised its holdings in The Hartford Insurance Group by 29.1% during the second quarter. Tema ETFs LLC now owns 5,733 shares of the insurance provider’s stock worth $760,000 after purchasing an additional 1,293 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in shares of The Hartford Insurance Group by 41.8% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 13,401 shares of the insurance provider’s stock worth $1,776,000 after buying an additional 3,950 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of The Hartford Insurance Group by 15.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,006 shares of the insurance provider’s stock worth $266,000 after buying an additional 273 shares during the last quarter. Finally, Czech National Bank boosted its holdings in shares of The Hartford Insurance Group by 2.7% in the 2nd quarter. Czech National Bank now owns 78,028 shares of the insurance provider’s stock valued at $10,340,000 after buying an additional 2,071 shares in the last quarter. Institutional investors and hedge funds 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.