The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $152.00

The Hartford Insurance Group (NYSE:HIG) had its price target increased by JPMorgan Chase & Co. from $149.00 to $152.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the stock. Mizuho upped their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Barclays dropped their price target on 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. Finally, UBS Group cut their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $148.75.

The Hartford Insurance Group Stock Down 0.8%

Shares of NYSE:HIG opened at $140.84 on Monday. The firm has a 50 day simple moving average of $133.54 and a 200-day simple moving average of $135.44. The Hartford Insurance Group has a twelve month low of $120.33 and a twelve month high of $144.50. 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 company has a market capitalization of $38.61 billion, a PE ratio of 9.90, a P/E/G ratio of 3.87 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the business earned $2.20 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that The Hartford Insurance Group will post 12.69 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the 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 completion of the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. 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. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several institutional investors have recently added to or reduced their stakes in HIG. Haven Private LLC boosted its stake in shares of The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 71 shares in the last quarter. Signal Advisors Wealth LLC increased its stake in The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 75 shares in the last quarter. GW&K Investment Management LLC increased its stake in The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in The Hartford Insurance Group by 0.4% during the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after purchasing an additional 79 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its holdings in The Hartford Insurance Group by 3.8% during the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds 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.