The Hartford Insurance Group (NYSE:HIG) Given New $158.00 Price Target at Cantor Fitzgerald

The Hartford Insurance Group (NYSE:HIG) had its price objective hoisted by equities researchers at Cantor Fitzgerald from $156.00 to $158.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.41% from the company’s current price.

Several other research firms also recently weighed in on HIG. Keefe, Bruyette & Woods raised their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research report on Wednesday. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Wells Fargo & Company lowered their price target on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. 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. Finally, Bank of America increased their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $147.81.

The Hartford Insurance Group Price Performance

Shares of HIG stock traded up $0.58 on Thursday, reaching $139.32. 110,502 shares of the company were exchanged, compared to its average volume of 1,628,552. The company has a market cap of $38.19 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 2.56 and a beta of 0.47. The business has a 50-day moving average price of $132.58 and a 200 day moving average price of $135.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a 1 year low of $119.61 and a 1 year high of $144.50.

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 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 in the prior year, the business posted $2.20 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that The Hartford Insurance Group will post 12.9 earnings per share for the current fiscal year.

Insider Activity

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

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

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.