UBS Group Issues Pessimistic Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price target lowered by analysts at UBS Group from $155.00 to $149.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. UBS Group’s target price would suggest a potential upside of 17.18% from the stock’s current price.

Several other equities research analysts have also commented on HIG. Royal Bank Of Canada upped their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, September 22nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $148.67.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG traded up $0.95 during midday trading on Tuesday, reaching $127.16. The company had a trading volume of 304,316 shares, compared to its average volume of 1,627,096. The Hartford Insurance Group has a 1 year low of $120.33 and a 1 year high of $146.07. The business’s 50-day simple moving average is $136.01 and its 200 day simple moving average is $135.20. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a market cap of $34.44 billion, a P/E ratio of 8.22, a P/E/G ratio of 2.08 and a beta of 0.49.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the firm earned $3.41 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that The Hartford Insurance Group will post 12.79 earnings per share for the current fiscal year.

Institutional Trading of The Hartford Insurance Group

Large investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. raised its stake in The Hartford Insurance Group by 3.8% in the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 82 shares in the last quarter. Versant Capital Management Inc grew its stake in The Hartford Insurance Group by 6.4% in the 2nd quarter. Versant Capital Management Inc now owns 1,443 shares of the insurance provider’s stock worth $191,000 after buying an additional 87 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of The Hartford Insurance Group by 2.8% in the 1st quarter. AdvisorNet Financial Inc now owns 3,509 shares of the insurance provider’s stock worth $475,000 after buying an additional 94 shares during the last quarter. CX Institutional raised its position in shares of The Hartford Insurance Group by 1.0% during the 3rd quarter. CX Institutional now owns 9,217 shares of the insurance provider’s stock valued at $1,128,000 after buying an additional 94 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of The Hartford Insurance Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 31,953 shares of the insurance provider’s stock worth $4,321,000 after acquiring an additional 100 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.