The Hartford Insurance Group (NYSE:HIG) Price Target Lowered to $164.00 at Wells Fargo & Company

The Hartford Insurance Group (NYSE:HIG) had its price objective decreased by Wells Fargo & Company from $165.00 to $164.00 in a research report sent to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

Several other equities research analysts also recently weighed in on HIG. Cantor Fitzgerald upped their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Barclays reduced their price target 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. Mizuho upped their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $149.00.

The Hartford Insurance Group Stock Down 0.3%

Shares of The Hartford Insurance Group stock opened at $140.06 on Monday. The company has a fifty day moving average price of $133.90 and a 200 day moving average price of $135.52. 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 twelve month low of $120.33 and a twelve month high of $144.50. The stock has a market cap of $37.94 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 3.83 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the company posted $3.41 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that The Hartford Insurance Group will post 12.69 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 15.51%.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

Institutional Trading of The Hartford Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. State Street Corp grew its holdings in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Geode Capital Management LLC increased its position in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after purchasing an additional 34,274 shares during the last quarter. Invesco Ltd. increased its position in shares of The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of The Hartford Insurance Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after purchasing an additional 72,448 shares in the last quarter. 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.