Morgan Stanley Forecasts Strong Price Appreciation for The Hartford Insurance Group (NYSE:HIG) Stock

The Hartford Insurance Group (NYSE:HIGGet Free Report) had its price target raised by investment analysts at Morgan Stanley from $140.00 to $142.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target indicates a potential upside of 0.87% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Mizuho assumed coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price objective for the company. Cantor Fitzgerald increased their target price on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $147.94.

Check Out Our Latest Research Report on The Hartford Insurance Group

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $140.77 on Tuesday. The firm’s 50 day moving average is $134.89 and its 200 day moving average is $131.52. The stock has a market capitalization of $39.23 billion, a P/E ratio of 10.55, a PEG ratio of 1.07 and a beta of 0.61. The Hartford Insurance Group has a 12 month low of $107.49 and a 12 month high of $141.53. The company has a current ratio of 0.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last issued 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 business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.94 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at $26,574,986.97. This represents a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several institutional investors have recently modified their holdings of HIG. National Pension Service grew its position in The Hartford Insurance Group by 6.7% during the 3rd quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock valued at $67,973,000 after purchasing an additional 31,912 shares during the last quarter. New York State Common Retirement Fund raised its holdings in The Hartford Insurance Group by 12.0% in the second quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock worth $26,546,000 after buying an additional 22,500 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of The Hartford Insurance Group by 5.3% in the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock worth $570,328,000 after buying an additional 215,941 shares in the last quarter. Capital Fund Management S.A. grew its holdings in shares of The Hartford Insurance Group by 94.9% during the second quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock valued at $17,805,000 after buying an additional 68,351 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of The Hartford Insurance Group by 7.5% during the third quarter. Vest Financial LLC now owns 358,916 shares of the insurance provider’s stock valued at $47,876,000 after acquiring an additional 25,041 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group News Roundup

Here are the key news stories impacting The Hartford Insurance Group this week:

The Hartford Insurance Group Company Profile

(Get Free Report)

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.

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