Cantor Fitzgerald Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price objective boosted by equities researchers at Cantor Fitzgerald from $144.00 to $145.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 14.31% from the stock’s current price.

A number of other brokerages have also recently commented on HIG. Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Mizuho lowered shares of The Hartford Insurance Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $163.00 to $154.00 in a research note on Wednesday, September 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. UBS Group decreased their target price on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $147.33.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $126.85 on Wednesday. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $146.07. The firm has a market capitalization of $34.36 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.09 and a beta of 0.49. 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 company’s fifty day moving average price is $135.67 and its 200 day moving average price is $135.16.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping 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 business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group will post 12.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. First Pacific Financial acquired a new stake in The Hartford Insurance Group in the first quarter valued at about $26,000. MidFirst Bank acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $26,000. Navigoe LLC purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $27,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $29,000. Finally, Polaris Financial Partners purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $27,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.