Wells Fargo & Company Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price objective raised by stock analysts at Wells Fargo & Company from $140.00 to $153.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 13.56% from the company’s previous close.

A number of other analysts have also weighed in on HIG. Wolfe Research initiated coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 29th. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target for the company. Evercore ISI increased their price target on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Finally, UBS Group increased their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.93.

The Hartford Insurance Group Price Performance

Shares of HIG traded down $0.51 during midday trading on Tuesday, hitting $134.73. 59,109 shares of the company traded hands, compared to its average volume of 1,224,997. The stock has a market cap of $37.54 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.23 and a beta of 0.61. The firm has a 50 day moving average of $135.10 and a 200-day moving average of $130.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Insurance Group has a 52 week low of $105.98 and a 52 week high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the company earned $2.53 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction dated Wednesday, October 29th. The shares were 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 directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signal Advisors Wealth LLC boosted its holdings in The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 75 shares during the period. PUREfi Wealth LLC raised its holdings in shares of The Hartford Insurance Group by 29.6% during the fourth quarter. PUREfi Wealth LLC now owns 2,971 shares of the insurance provider’s stock worth $409,000 after purchasing an additional 678 shares during the period. Czech National Bank lifted its position in shares of The Hartford Insurance Group by 2.9% in the 4th quarter. Czech National Bank now owns 73,476 shares of the insurance provider’s stock worth $10,125,000 after buying an additional 2,064 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of The Hartford Insurance Group by 13.9% in the 4th quarter. DAVENPORT & Co LLC now owns 3,879 shares of the insurance provider’s stock valued at $535,000 after buying an additional 473 shares during the period. Finally, Pensionfund Sabic bought a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at about $1,516,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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.