The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $139.00

The Hartford Insurance Group (NYSE:HIG) had its target price increased by Wells Fargo & Company from $138.00 to $139.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other analysts have also issued reports about the stock. Wall Street Zen raised shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Jefferies Financial Group lowered their price target on The Hartford Insurance Group from $118.00 to $117.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Piper Sandler upped their price target on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods decreased their price objective on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group raised their price target on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.83.

The Hartford Insurance Group Trading Down 0.0%

HIG opened at $124.60 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group has a one year low of $103.96 and a one year high of $132.09. The firm has a market capitalization of $35.03 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.30 and a beta of 0.69. The business has a 50 day simple moving average of $125.27 and a two-hundred day simple moving average of $120.40.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 earnings per share. Analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.67%. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

Institutional Trading of The Hartford Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Private Wealth Management Group LLC increased its holdings in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after buying an additional 133 shares during the last quarter. Park Square Financial Group LLC increased its holdings in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 155 shares during the period. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $33,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.