The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $158.00 at Cantor Fitzgerald

The Hartford Insurance Group (NYSE:HIG) had its target price raised by Cantor Fitzgerald from $156.00 to $158.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company dropped their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, June 5th. UBS Group lowered their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Piper Sandler cut their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Finally, Mizuho boosted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.50.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $138.32 on Thursday. The Hartford Insurance Group has a twelve month low of $119.61 and a twelve month high of $144.50. 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 stock has a market cap of $37.92 billion, a P/E ratio of 9.72, a PEG ratio of 2.54 and a beta of 0.47. The company’s 50-day simple moving average is $132.57 and its 200 day simple moving average is $135.42.

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

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction 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 directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Hedge funds have recently added to or reduced their stakes in the stock. First Pacific Financial acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth $26,000. Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group during the 1st quarter worth $29,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter valued at $29,000. Finally, United Financial Planning Group LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at $29,000. Institutional investors 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.