The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $150.00

The Hartford Insurance Group (NYSE:HIG) had its price target boosted by Morgan Stanley from $140.00 to $150.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other research firms have also commented on HIG. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Thursday, November 13th. Finally, Evercore ISI upped their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.86.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $132.20 on Monday. The stock has a market cap of $36.84 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $135.27. The firm’s 50-day simple moving average is $129.56 and its 200 day simple moving average is $128.19.

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

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a $0.60 dividend. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s payout ratio is presently 19.61%.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The stock was 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 directly owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their position. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HIG. Cornerstone Planning Group LLC raised its stake in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 184 shares during the period. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group in the third quarter worth about $26,000. Princeton Global Asset Management LLC purchased a new position in shares of The Hartford Insurance Group in the third quarter worth about $27,000. Private Wealth Management Group LLC raised its position in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the period. Finally, United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.