The Hartford Insurance Group (NYSE:HIG) Stock Price Target Cut by Keefe, Bruyette & Woods

The Hartford Insurance Group (NYSE:HIG) had its price objective cut by research analysts at Keefe, Bruyette & Woods from $144.00 to $137.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 5.00% from the stock’s current price.

HIG has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. 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 research report on Monday, July 20th. Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating for the company in a report on Monday. Finally, UBS Group dropped their price target on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $145.25.

The Hartford Insurance Group Trading Up 1.1%

NYSE:HIG traded up $1.36 during trading hours on Monday, reaching $130.47. 400,591 shares of the stock were exchanged, compared to its average volume of 1,623,427. The Hartford Insurance Group has a twelve month low of $120.33 and a twelve month high of $146.07. The business has a 50-day moving average of $134.76 and a two-hundred day moving average of $135.06. The company has a market capitalization of $35.34 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 2.13 and a beta of 0.49. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that The Hartford Insurance Group will post 12.85 EPS for the current year.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in HIG. BlackRock Inc. purchased a new stake in The Hartford Insurance Group during the 2nd quarter valued at approximately $4,067,052,000. Dimensional Fund Advisors LP increased its holdings in shares of The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after purchasing an additional 72,448 shares during the period. Bank of America Corp DE raised its stake in shares of The Hartford Insurance Group by 2.1% during the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock worth $518,150,000 after purchasing an additional 79,827 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of The Hartford Insurance Group by 5.8% during the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock worth $468,113,000 after purchasing an additional 189,916 shares during the period. Finally, Legal & General Group Plc purchased a new position in The Hartford Insurance Group in the 2nd quarter valued at $346,877,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

About The Hartford Insurance Group

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.