Mizuho Forecasts Strong Price Appreciation for The Hartford Insurance Group (NYSE:HIG) Stock

The Hartford Insurance Group (NYSE:HIG) had its target price raised by research analysts at Mizuho from $144.00 to $145.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho‘s target price would suggest a potential upside of 5.74% from the company’s previous close.

HIG has been the subject of a number of other research reports. Royal Bank Of Canada raised their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. UBS Group lowered their price target on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Wells Fargo & Company downgraded The Hartford Insurance Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $158.00 to $139.00 in a research note on Wednesday. Cantor Fitzgerald decreased their price target on shares of The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Finally, Truist Financial began coverage on shares of The Hartford Insurance Group in a research report on Monday, October 12th. They set a “hold” rating and a $137.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Hold” and an average price target of $143.56.

The Hartford Insurance Group Trading Down 0.5%

Shares of The Hartford Insurance Group stock opened at $137.13 on Thursday. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 1.94 and a beta of 0.48. The Hartford Insurance Group has a fifty-two week low of $120.42 and a fifty-two week high of $146.07. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $132.67 and a 200-day simple moving average of $135.60.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, October 26th. The insurance provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.17 by $0.33. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The company had revenue of $7.22 billion during the quarter, compared to the consensus estimate of $7.37 billion. During the same quarter last year, the company earned $3.78 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that The Hartford Insurance Group will post 13.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Beth Costello sold 31,597 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $135.75, for a total transaction of $4,289,292.75. Following the completion of the transaction, the chief financial officer directly owned 82,988 shares in the company, valued at $11,265,621. This represents a 27.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 currently owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of HIG. National Pension Service boosted its stake in The Hartford Insurance Group by 4.9% in the second quarter. National Pension Service now owns 554,720 shares of the insurance provider’s stock worth $73,511,000 after buying an additional 26,060 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth $69,310,000. Engineers Gate Manager LP increased its holdings in The Hartford Insurance Group by 262.4% in the 2nd quarter. Engineers Gate Manager LP now owns 61,198 shares of the insurance provider’s stock worth $8,110,000 after acquiring an additional 44,310 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of The Hartford Insurance Group by 222.6% in the third quarter. Assenagon Asset Management S.A. now owns 296,906 shares of the insurance provider’s stock valued at $36,329,000 after acquiring an additional 204,857 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of The Hartford Insurance Group by 9.2% in the second quarter. NewEdge Advisors LLC now owns 446,491 shares of the insurance provider’s stock worth $59,169,000 after purchasing an additional 37,673 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc., known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals. Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.