The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Piper Sandler Analyst Says

The Hartford Insurance Group (NYSE:HIG) had its target price lifted by stock analysts at Piper Sandler from $152.00 to $161.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s target price suggests a potential upside of 15.75% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Morgan Stanley lifted their price target on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Argus raised their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.33.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $139.09 on Monday. The business has a 50-day simple moving average of $131.39 and a 200 day simple moving average of $129.30. The Hartford Insurance Group has a one year low of $104.93 and a one year high of $140.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $38.76 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.30 and a beta of 0.63.

The Hartford Insurance Group (NYSE:HIG) last issued 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 Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the business earned $2.53 EPS. The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the firm’s 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 owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter valued at $26,000. Princeton Global Asset Management LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at $27,000. Private Wealth Management Group LLC grew its stake in shares of The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 133 shares during the period. Finally, United Financial Planning Group LLC bought a new position in shares of The Hartford Insurance Group during the 3rd quarter worth $29,000. 93.42% of the stock is owned by institutional investors.

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.