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

The Hartford Insurance Group (NYSE:HIG) had its target price increased by Cantor Fitzgerald from $152.00 to $160.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other analysts also recently commented on HIG. Evercore ISI increased their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price target on The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Wolfe Research initiated coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, Argus lifted their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.47.

The Hartford Insurance Group Stock Down 1.0%

NYSE HIG opened at $129.49 on Wednesday. The business has a fifty day moving average price of $135.31 and a 200 day moving average price of $130.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market cap of $36.08 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.18 and a beta of 0.61. The Hartford Insurance Group has a one year low of $105.98 and a one year high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Research analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of institutional investors have recently modified their holdings of HIG. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $207,000. Czech National Bank boosted its stake in shares of The Hartford Insurance Group by 5.1% in the second quarter. Czech National Bank now owns 69,444 shares of the insurance provider’s stock valued at $8,810,000 after purchasing an additional 3,387 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of The Hartford Insurance Group by 29.4% in the second quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 91 shares during the period. Balefire LLC acquired a new position in shares of The Hartford Insurance Group in the second quarter valued at approximately $233,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in The Hartford Insurance Group during the 2nd quarter worth approximately $212,000. 93.42% of the stock is 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.