Mizuho Issues Pessimistic Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price objective decreased by research analysts at Mizuho from $159.00 to $154.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Mizuho’s price objective indicates a potential upside of 18.84% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Bank of America upped their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Wells Fargo & Company lifted their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Barclays dropped their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $148.19.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $129.59 on Friday. The Hartford Insurance Group has a 12 month low of $119.61 and a 12 month high of $144.50. The stock has a market capitalization of $35.52 billion, a PE ratio of 9.12, a PEG ratio of 2.26 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $134.93 and a 200-day moving average of $135.87.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts predict that The Hartford Insurance Group will post 13.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan lifted its holdings in shares of The Hartford Insurance Group by 252.7% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock worth $3,245,000 after acquiring an additional 17,582 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in The Hartford Insurance Group by 109.2% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock worth $3,358,000 after purchasing an additional 13,138 shares during the period. Raiffeisen Bank International AG grew its holdings in shares of The Hartford Insurance Group by 102.0% in the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock worth $2,739,000 after purchasing an additional 10,455 shares during the last quarter. Caprock Group LLC purchased a new position in shares of The Hartford Insurance Group in the third quarter worth $5,682,000. Finally, CSM Advisors LLC increased its stake in shares of The Hartford Insurance Group by 20.6% in the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock worth $44,866,000 after buying an additional 57,468 shares during the period. Institutional investors own 93.42% of the company’s stock.

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.