Argus Raises The Hartford Insurance Group (NYSE:HIG) Price Target to $155.00

The Hartford Insurance Group (NYSE:HIG) had its target price boosted by Argus from $143.00 to $155.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Argus’ target price suggests a potential upside of 12.71% from the stock’s previous close.

Several other equities research analysts have also issued reports on HIG. Citigroup assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price for the company. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Wednesday, November 19th. UBS Group lifted their price objective on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.29.

The Hartford Insurance Group Trading Down 0.0%

The Hartford Insurance Group stock opened at $137.52 on Tuesday. The Hartford Insurance Group has a 12 month low of $104.93 and a 12 month high of $138.64. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $38.32 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.19 and a beta of 0.69. The company’s fifty day simple moving average is $130.06 and its 200-day simple moving average is $128.51.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $7.17 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

Insider Activity at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cornerstone Planning Group LLC raised its position in shares of The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group during the third quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $27,000. Private Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares in the last quarter. Finally, United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, 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.