Morgan Stanley Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price objective lifted by equities research analysts at Morgan Stanley from $140.00 to $150.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 12.67% from the stock’s previous close.

A number of other brokerages also recently commented on HIG. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price target for the company. Wells Fargo & Company dropped their price objective on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Citigroup began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

The Hartford Insurance Group Stock Performance

Shares of HIG traded down $0.71 during mid-day trading on Monday, hitting $133.14. 162,523 shares of the company’s stock were exchanged, compared to its average volume of 1,586,722. The firm has a market capitalization of $37.10 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $135.27. The business’s 50 day moving average is $129.47 and its two-hundred day moving average is $128.04. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $2.53 EPS. On average, equities analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The Hartford Insurance Group during the second quarter worth $506,329,000. Franklin Resources Inc. boosted its stake in The Hartford Insurance Group by 51.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock worth $414,632,000 after buying an additional 1,111,659 shares during the last quarter. Woodline Partners LP grew its holdings in The Hartford Insurance Group by 28,218.5% in the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after buying an additional 755,128 shares during the period. Nuveen LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $87,516,000. Finally, Bahl & Gaynor Inc. grew its holdings in The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after purchasing an additional 684,390 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.