Piper Sandler Has Lowered Expectations for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price target decreased by analysts at Piper Sandler from $154.00 to $148.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target would suggest a potential upside of 14.47% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Mizuho decreased their price target on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Wells Fargo & Company lowered their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Finally, Cantor Fitzgerald cut their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $147.38.

The Hartford Insurance Group Trading Up 0.0%

NYSE:HIG traded up $0.03 on Thursday, reaching $129.29. 117,811 shares of the stock traded hands, compared to its average volume of 1,596,132. 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 Hartford Insurance Group has a 1-year low of $119.61 and a 1-year high of $144.50. The company’s 50 day moving average is $134.58 and its 200-day moving average is $135.77. The firm has a market capitalization of $35.44 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that The Hartford Insurance Group will post 13.12 EPS for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on 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. The trade was a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter worth about $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group during the 1st quarter valued at about $29,000. Finally, Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is currently 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.