Wells Fargo & Company Lowers The Hartford Insurance Group (NYSE:HIG) Price Target to $164.00

The Hartford Insurance Group (NYSE:HIG) had its price objective cut by investment analysts at Wells Fargo & Company from $165.00 to $164.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 16.73% from the stock’s previous close.

Several other brokerages have also weighed in on HIG. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Piper Sandler restated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Finally, Cantor Fitzgerald upped their target price 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 assigned a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Hold” and an average target price of $148.69.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $140.50 on Monday. The Hartford Insurance Group has a 52 week low of $120.33 and a 52 week high of $144.50. The business’s fifty day simple moving average is $133.83 and its 200-day simple moving average is $135.49. The firm has a market cap of $38.06 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 EPS. Equities analysts forecast that The Hartford Insurance Group will post 12.69 earnings per share for the current year.

Insider Activity 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 dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of HIG. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group in the 1st quarter worth about $207,000. NewEdge Advisors LLC boosted its holdings in shares of The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after buying an additional 886 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after acquiring an additional 6,285 shares in the last quarter. HUB Investment Partners LLC lifted its position in shares of The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after acquiring an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is 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.