Cantor Fitzgerald Boosts The Hartford Insurance Group (NYSE:HIG) Price Target to $165.00

The Hartford Insurance Group (NYSE:HIG) had its price objective increased by analysts at Cantor Fitzgerald from $160.00 to $165.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 19.29% from the stock’s current price.

HIG has been the subject of several other research reports. Piper Sandler upped their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Argus lifted their price objective on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. UBS Group increased their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Morgan Stanley boosted 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 report on Monday, November 17th. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.63.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $138.32 on Monday. The stock has a market cap of $38.54 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.06 and a beta of 0.61. The Hartford Insurance Group has a 12-month low of $107.49 and a 12-month high of $140.50. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $134.83 and its 200 day simple moving average is $131.46.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (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 company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the company posted $2.94 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. raised its position in The Hartford Insurance Group by 5.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,898 shares of the insurance provider’s stock valued at $8,487,000 after buying an additional 3,161 shares during the last quarter. Hilltop National Bank bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $104,000. Ameritas Advisory Services LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $199,000. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of The Hartford Insurance Group by 5.3% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 73,860 shares of the insurance provider’s stock worth $9,371,000 after acquiring an additional 3,725 shares in the last quarter. 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.