The Hartford Insurance Group (NYSE:HIG) Stock Gets Price Target Reduction from Wells Fargo & Company

The Hartford Insurance Group (NYSE:HIG) had its price objective lowered by Wells Fargo & Company from $164.00 to $158.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

A number of other research firms also recently commented on HIG. Mizuho reduced their target price on The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $145.25.

The Hartford Insurance Group Stock Up 0.5%

HIG opened at $131.86 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50 day simple moving average of $134.06 and a 200-day simple moving average of $134.98. The stock has a market capitalization of $35.72 billion, a P/E ratio of 9.14, a P/E/G ratio of 2.14 and a beta of 0.49. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the business earned $3.41 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that The Hartford Insurance Group will post 12.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HIG. B. Riley Wealth Advisors Inc. grew its stake in shares of The Hartford Insurance Group by 11.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,675 shares of the insurance provider’s stock valued at $572,000 after buying an additional 498 shares during the period. Krilogy Financial LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $324,000. Sax Wealth Advisors LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter worth $205,000. NorthCrest Asset Manangement LLC increased its position in shares of The Hartford Insurance Group by 29.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 18,918 shares of the insurance provider’s stock worth $2,450,000 after acquiring an additional 4,323 shares in the last quarter. Finally, Riversedge Advisors LLC increased its position in shares of The Hartford Insurance Group by 33.3% in the third quarter. Riversedge Advisors LLC now owns 3,092 shares of the insurance provider’s stock worth $378,000 after acquiring an additional 773 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group News Summary

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Employee benefits acquisition expands growth platform: HIG completed its acquisition of Equitable’s Employee Benefits business, adding approximately $500 million in premiums, broadening its product portfolio and enhancing digital capabilities. The deal could strengthen HIG’s benefits business and diversify its revenue base. The Hartford Closes Acquisition Of Equitable’s Employee Benefits Business
• Positive Sentiment: Wells Fargo maintains a Buy rating: Continued bullish coverage from Wells Fargo signals that at least one major analyst sees further upside in HIG, potentially helping offset more cautious views elsewhere. Wells Fargo Remains a Buy on Hartford Insurance
• Positive Sentiment: Analyst target remains above the current share price: Analysts cited by American Banking News have an average target price of $145.25, suggesting potential upside based on consensus expectations. The Hartford Insurance Group Stock Has Average Target Price of $145.25
• Neutral Sentiment: Leadership changes announced: HIG named a new chief risk officer and announced broader management changes. The appointments may improve risk oversight, but investors are likely to monitor execution and continuity under the revised leadership team. Hartford Announces Leadership Changes, Names New Chief Risk Officer
• Negative Sentiment: Mixed analyst signals limit enthusiasm: Truist Securities initiated coverage with a Hold rating, while Keefe, Bruyette & Woods lowered its expectations for HIG’s stock price. These cautious calls could cap near-term gains despite the acquisition and Wells Fargo’s Buy rating. Truist Securities Initiates Coverage at Hold Keefe, Bruyette & Woods Lowers Expectations

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.