The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $142.00 at Morgan Stanley

The Hartford Insurance Group (NYSE:HIG) had its price target raised by investment analysts at Morgan Stanley from $140.00 to $142.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 2.52% from the stock’s current price.

HIG has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Argus upped 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. Roth Mkm raised their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho initiated coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.63.

The Hartford Insurance Group Stock Up 1.0%

Shares of HIG stock traded up $1.34 during trading hours on Tuesday, reaching $138.51. 368,263 shares of the company’s stock were exchanged, compared to its average volume of 1,458,161. The Hartford Insurance Group has a 1 year low of $107.49 and a 1 year high of $140.50. The company has a current ratio of 0.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The stock has a market cap of $38.60 billion, a PE ratio of 10.35, a PEG ratio of 1.09 and a beta of 0.61. The stock’s fifty day moving average price is $134.81 and its two-hundred day moving average price is $131.35.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.34 billion during 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 Hartford Insurance Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business earned $2.94 EPS. Research analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its stake in shares of The Hartford Insurance Group by 12.0% during the 2nd quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock worth $26,546,000 after acquiring an additional 22,500 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of The Hartford Insurance Group by 5.3% during the 3rd quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock worth $570,328,000 after acquiring an additional 215,941 shares during the period. Capital Fund Management S.A. grew its holdings in shares of The Hartford Insurance Group by 94.9% during the 2nd quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock valued at $17,805,000 after purchasing an additional 68,351 shares during the last quarter. National Pension Service boosted its position in The Hartford Insurance Group by 6.7% during the 3rd quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock worth $67,973,000 after buying an additional 31,912 shares during the period. Finally, Vest Financial LLC raised its holdings in The Hartford Insurance Group by 7.5% during the 3rd quarter. Vest Financial LLC now owns 358,916 shares of the insurance provider’s stock worth $47,876,000 after purchasing an additional 25,041 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.