The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $160.00 at Cantor Fitzgerald

The Hartford Insurance Group (NYSE:HIG) had its price target increased by research analysts at Cantor Fitzgerald from $152.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 21.45% from the stock’s current price.

Several other brokerages have also weighed in on HIG. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Mizuho assumed coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Piper Sandler upped their price target on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $131.74 on Wednesday. The Hartford Insurance Group has a fifty-two week low of $105.98 and a fifty-two week high of $140.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The business has a 50-day moving average of $135.18 and a 200-day moving average of $130.55. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.22 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 earnings per share. As a group, sell-side analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in The Hartford Insurance Group during the 1st quarter worth $207,000. Czech National Bank boosted its stake in shares of The Hartford Insurance Group by 5.1% during the second quarter. Czech National Bank now owns 69,444 shares of the insurance provider’s stock valued at $8,810,000 after purchasing an additional 3,387 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of The Hartford Insurance Group by 29.4% during the second quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 91 shares during the last quarter. Balefire LLC acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at approximately $233,000. Finally, Aaron Wealth Advisors LLC acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at approximately $212,000. 93.42% of the stock is currently 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.