The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $155.00

The Hartford Insurance Group (NYSE:HIG) had its price target upped by UBS Group from $151.00 to $155.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the company. Evercore ISI lifted their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Morgan Stanley lifted their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Citigroup assumed coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. 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. Finally, Piper Sandler increased their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

The Hartford Insurance Group Stock Up 0.1%

HIG stock opened at $130.21 on Monday. The Hartford Insurance Group has a 52-week low of $104.93 and a 52-week high of $138.64. The company’s 50 day simple moving average is $130.24 and its 200-day simple moving average is $128.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $36.28 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.21 and a beta of 0.63.

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

The Hartford Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is 19.61%.

Insider Activity

In related news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in HIG. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group during the third quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its holdings in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of The Hartford Insurance Group in the third quarter valued at approximately $29,000. Finally, United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

About The Hartford Insurance Group

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.