The Hartford Insurance Group (NYSE:HIG) Given New $165.00 Price Target at Wells Fargo & Company

The Hartford Insurance Group (NYSE:HIG) had its price objective boosted by Wells Fargo & Company from $154.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

HIG has been the subject of several other reports. Cantor Fitzgerald raised their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research report on Wednesday. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Barclays reduced their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Finally, Piper Sandler decreased their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $148.50.

The Hartford Insurance Group Stock Down 0.3%

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 firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 2.54 and a beta of 0.47. 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’s 50 day moving average price is $132.57 and its two-hundred day moving average price 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 Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group will post 12.9 earnings per share 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. Investors of record on Monday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated 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 owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Institutional Trading of The Hartford Insurance Group

Several large investors have recently modified their holdings of the stock. Haven Private LLC grew its stake in The Hartford Insurance Group by 1.1% during the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after buying an additional 71 shares in the last quarter. Signal Advisors Wealth LLC boosted its position in shares of The Hartford Insurance Group by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after acquiring an additional 75 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of The Hartford Insurance Group by 40.3% during the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares in the last quarter. Kestra Advisory Services LLC raised its position in The Hartford Insurance Group by 0.4% during the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after purchasing an additional 79 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in The Hartford Insurance Group by 3.8% during the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 82 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group News Summary

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

About The Hartford Insurance Group

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.