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

The Hartford Insurance Group (NYSE:HIG) had its target price upped by UBS Group from $151.00 to $155.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. UBS Group’s target price points to a potential upside of 19.20% from the company’s previous close.

Several other brokerages have also commented on HIG. JPMorgan Chase & Co. upped their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Morgan Stanley lifted their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $130.04 on Monday. The stock has a fifty day moving average price of $130.30 and a 200 day moving average price of $128.75. The Hartford Insurance Group has a 52 week low of $104.93 and a 52 week high of $138.64. The firm has a market capitalization of $36.23 billion, a P/E ratio of 10.62, a PEG ratio of 1.21 and a beta of 0.63. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the business earned $2.53 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group in the third quarter worth about $26,000. Princeton Global Asset Management LLC purchased a new position in The Hartford Insurance Group in the third quarter valued at about $27,000. Private Wealth Management Group LLC grew its stake in The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares in the last quarter. Finally, United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.