The Hartford Insurance Group (NYSE:HIG) Price Target Cut to $154.00 by Analysts at Wells Fargo & Company

The Hartford Insurance Group (NYSE:HIG) had its price target lowered by Wells Fargo & Company from $165.00 to $154.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

A number of other research firms also recently commented on HIG. Cantor Fitzgerald reduced their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Mizuho reduced their price objective on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America increased their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Barclays reduced their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. 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 Wednesday, May 27th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.19.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $132.25 on Friday. The company has a market capitalization of $36.25 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 2.29 and a beta of 0.47. The firm has a fifty day simple moving average of $134.89 and a 200-day simple moving average of $135.84. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a twelve month low of $119.61 and a twelve month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 earnings per share. Equities research analysts anticipate that The Hartford Insurance Group will post 13.17 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Insider Activity

In related news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several large investors have recently bought and sold shares of the stock. Haven Private LLC increased its stake in The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock valued at $930,000 after buying an additional 71 shares during the period. Signal Advisors Wealth LLC grew its stake in shares of The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 75 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after purchasing an additional 79 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its stake in shares of The Hartford Insurance Group by 3.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.