Wells Fargo & Company Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price target boosted by research analysts at Wells Fargo & Company from $153.00 to $156.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 14.99% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group upped their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Mizuho started coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.81.

The Hartford Insurance Group Trading Up 0.4%

The Hartford Insurance Group stock traded up $0.60 during midday trading on Monday, reaching $135.66. The stock had a trading volume of 293,492 shares, compared to its average volume of 1,421,575. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The Hartford Insurance Group has a twelve month low of $107.49 and a twelve month high of $140.50. The stock has a market capitalization of $37.80 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. The stock’s 50-day simple moving average is $134.80 and its 200 day simple moving average is $131.25.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the firm earned $2.94 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts expect that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Institutional investors have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth about $26,000. Princeton Global Asset Management LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its holdings in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Finally, United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group in the third quarter valued at approximately $29,000. 93.42% of the stock is currently owned by institutional investors.

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.