The Hartford Insurance Group (NYSE:HIG) Given New $163.00 Price Target at Mizuho

The Hartford Insurance Group (NYSE:HIG) had its price target raised by Mizuho from $154.00 to $163.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other research firms also recently commented on HIG. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a report on Wednesday. Cantor Fitzgerald lowered their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Bank of America upped their target price on 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. Piper Sandler lowered their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, June 11th. Finally, UBS Group decreased their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.50.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $138.32 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The business’s 50-day simple moving average is $132.57 and its two-hundred day simple moving average is $135.42. The stock has a market cap of $37.92 billion, a PE ratio of 9.72, a P/E/G ratio of 2.54 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that The Hartford Insurance Group will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st were paid a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Institutional Trading of The Hartford Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Pacific Financial purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the third quarter worth about $26,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the third quarter worth about $29,000. Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group during the 1st quarter valued at about $29,000. Finally, Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Key Headlines Impacting The Hartford Insurance Group

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

• Positive Sentiment: Wells Fargo raised its price target on HIG to $165 from $154 and reiterated an overweight rating, signaling about 19% upside from current levels. Benzinga report on Wells Fargo price target increase
• Positive Sentiment: Mizuho also boosted its target to $163 from $154 and kept an outperform rating, adding to the positive analyst sentiment around the stock. Benzinga report on Mizuho price target increase
• Positive Sentiment: Cantor Fitzgerald increased its target to $158 from $156 and maintained an overweight rating, reinforcing expectations for further upside. Benzinga report on Cantor Fitzgerald price target increase
• Neutral Sentiment: Keefe, Bruyette & Woods issued a positive forecast for HIG, but its latest target of $143 and market-perform rating were less bullish than the other recent calls. KBW report
• Neutral Sentiment: Zacks highlighted surging implied volatility in HIG options, suggesting traders are positioning for a larger move, though this does not clearly point to direction by itself. Zacks article on implied volatility

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.