The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $150.00 at Royal Bank Of Canada

The Hartford Insurance Group (NYSE:HIG) had its price target upped by research analysts at Royal Bank Of Canada from $145.00 to $150.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 6.29% from the company’s previous close.

Several other research analysts have also commented on the company. Cantor Fitzgerald raised their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Barclays lowered their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Wells Fargo & Company reduced their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Piper Sandler reiterated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $149.00.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG traded up $0.59 during trading on Monday, hitting $141.12. 325,714 shares of the company were exchanged, compared to its average volume of 1,627,921. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s fifty day moving average price is $133.83 and its 200 day moving average price is $135.49. The Hartford Insurance Group has a 1 year low of $120.33 and a 1 year high of $144.50. The company has a market cap of $38.23 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 3.83 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The business’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Insurance Group will post 12.69 earnings per share for the current fiscal year.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth about $26,000. Phillip James Consulting Co. bought a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at $29,000. Finally, Sound Income Strategies LLC increased its position in The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 87 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.