The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

The Hartford Insurance Group (NYSE:HIG) had its target price upped by research analysts at JPMorgan Chase & Co. from $142.00 to $143.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.95% from the stock’s current price.

HIG has been the topic of several other reports. UBS Group increased their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Morgan Stanley raised their price target on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target on the stock. Finally, Wall Street Zen raised The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.07.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $128.89 on Thursday. The Hartford Insurance Group has a 1-year low of $104.93 and a 1-year high of $135.17. 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 business’s fifty day moving average price is $131.46 and its two-hundred day moving average price is $126.32. The firm has a market capitalization of $36.24 billion, a PE ratio of 11.69, a P/E/G ratio of 1.26 and a beta of 0.69.

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

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of The Hartford Insurance Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after purchasing an additional 156,807 shares during the period. Geode Capital Management LLC boosted its position in shares of The Hartford Insurance Group by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock valued at $943,448,000 after purchasing an additional 57,539 shares during the period. Invesco Ltd. boosted its position in shares of The Hartford Insurance Group by 2.9% in the 2nd quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock valued at $613,349,000 after purchasing an additional 136,483 shares during the period. Norges Bank acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at $506,329,000. Finally, Northern Trust Corp boosted its position in shares of The Hartford Insurance Group by 11.3% in the 1st quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider’s stock valued at $487,077,000 after purchasing an additional 398,950 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.