JPMorgan Chase & Co. Forecasts Strong Price Appreciation for The Hartford Insurance Group (NYSE:HIG) Stock

The Hartford Insurance Group (NYSE:HIG) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $149.00 to $152.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.29% from the stock’s current price.

HIG has been the topic of several other research reports. Mizuho upped their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Bank of America lifted their price objective 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. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Barclays reduced their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Finally, UBS Group lowered their price target 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. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $148.75.

The Hartford Insurance Group Trading Up 0.8%

NYSE:HIG opened at $141.67 on Monday. The Hartford Insurance Group has a one year low of $120.33 and a one year high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day simple moving average is $133.38 and its 200 day simple moving average is $135.42. The firm has a market capitalization of $38.84 billion, a P/E ratio of 9.96, a PEG ratio of 3.82 and a beta of 0.47.

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 analysts’ consensus estimates 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 in the prior year, the business posted $2.20 EPS. The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts forecast that The Hartford Insurance Group will post 12.74 EPS for the current fiscal year.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Pacific Financial purchased a new position in The Hartford Insurance Group in the 1st quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at about $29,000. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group in the third quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the period. 93.42% of the stock is owned by institutional investors.

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.