Cantor Fitzgerald Forecasts Strong Price Appreciation for The Hartford Insurance Group (NYSE:HIG) Stock

The Hartford Insurance Group (NYSE:HIG) had its price objective raised by analysts at Cantor Fitzgerald from $160.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 20.75% from the company’s previous close.

A number of other research firms have also issued reports on HIG. Wells Fargo & Company boosted their target price on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley boosted their price target on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. 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, Argus raised their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG traded up $1.58 during mid-day trading on Monday, reaching $136.64. 406,219 shares of the company traded hands, compared to its average volume of 1,423,666. The company’s 50 day moving average price is $134.80 and its 200-day moving average price is $131.25. The firm has a market cap of $38.08 billion, a PE ratio of 10.24, a PEG ratio of 1.09 and a beta of 0.61. The Hartford Insurance Group has a 52 week low of $107.49 and a 52 week high of $140.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32.

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

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of The Hartford Insurance Group by 5.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,898 shares of the insurance provider’s stock valued at $8,487,000 after buying an additional 3,161 shares during the period. Hilltop National Bank bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at about $104,000. Ameritas Advisory Services LLC bought a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $199,000. Finally, Knights of Columbus Asset Advisors LLC boosted its position in The Hartford Insurance Group by 5.3% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 73,860 shares of the insurance provider’s stock worth $9,371,000 after acquiring an additional 3,725 shares during the last quarter. 93.42% of the stock is 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.