The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $144.00

The Hartford Insurance Group (NYSE:HIG) had its price target boosted by Keefe, Bruyette & Woods from $143.00 to $144.00 in a report issued on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

A number of other equities analysts have also commented on the company. Bank of America lifted their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. UBS Group decreased their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald lifted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wells Fargo & Company cut their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective 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. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Hold” and a consensus price target of $149.06.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $142.95 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $134.40 and a 200 day simple moving average of $135.67. The company has a market cap of $38.72 billion, a P/E ratio of 9.24, a P/E/G ratio of 3.95 and a beta of 0.47. The Hartford Insurance Group has a 1 year low of $120.33 and a 1 year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. On average, sell-side analysts predict that The Hartford Insurance Group will post 12.77 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Trading of The Hartford Insurance Group

Institutional investors have recently modified their holdings of the company. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group in the first quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter valued at $26,000. Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $29,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $29,000. Finally, Sound Income Strategies LLC raised its stake in shares of The Hartford Insurance Group by 45.3% in the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.