Piper Sandler Reiterates Neutral Rating for The Hartford Insurance Group (NYSE:HIG)

The Hartford Insurance Group (NYSE:HIG)‘s stock had its “neutral” rating reaffirmed by investment analysts at Piper Sandler in a report issued on Wednesday,Benzinga reports. They currently have a $146.00 target price on the insurance provider’s stock, down from their previous target price of $148.00. Piper Sandler’s price objective indicates a potential upside of 5.63% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Barclays dropped their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Wells Fargo & Company raised their price target on The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. UBS Group dropped their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Cantor Fitzgerald boosted their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and a consensus price target of $148.38.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $138.22 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average is $132.77 and its two-hundred day moving average is $135.42. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a market capitalization of $37.89 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 3.22 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, analysts expect that The Hartford Insurance Group will post 12.81 earnings per share for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred 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 of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. Norges Bank purchased a new stake in The Hartford Insurance Group in the fourth quarter valued at about $611,724,000. Allianz Asset Management GmbH boosted its holdings in The Hartford Insurance Group by 131.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after acquiring an additional 925,789 shares in the last quarter. Danske Bank A S purchased a new stake in shares of The Hartford Insurance Group during the third quarter worth about $91,398,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of The Hartford Insurance Group by 6,431.8% during the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after acquiring an additional 633,592 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Company Profile

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.