The Hartford Insurance Group (NYSE:HIG) Price Target Lowered to $155.00 at Barclays

The Hartford Insurance Group (NYSE:HIG) had its price objective decreased by Barclays from $156.00 to $155.00 in a research note published on Friday,Benzinga reports. Barclays currently has an overweight rating on the insurance provider’s stock.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald decreased their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Mizuho cut 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 report on Friday, June 5th. Keefe, Bruyette & Woods cut their price objective on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Bank of America lifted their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Wells Fargo & Company cut their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $129.49 on Friday. The company has a market capitalization of $35.50 billion, a PE ratio of 9.10, a P/E/G ratio of 2.33 and a beta of 0.47. The company has a 50 day simple moving average of $134.34 and a two-hundred day simple moving average of $135.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a fifty-two week low of $119.61 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. Research analysts anticipate that The Hartford Insurance Group will post 13.02 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of HIG. First Pacific Financial purchased a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $29,000. Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $29,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.