The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $165.00 at Wells Fargo & Company

The Hartford Insurance Group (NYSE:HIG) had its target price lifted by investment analysts at Wells Fargo & Company from $154.00 to $165.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 19.10% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Mizuho increased their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America lifted their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research note on Wednesday. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Barclays decreased their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.50.

The Hartford Insurance Group Stock Down 0.1%

The Hartford Insurance Group stock traded down $0.20 during midday trading on Thursday, reaching $138.53. The stock had a trading volume of 474,029 shares, compared to its average volume of 1,631,373. The stock has a market capitalization of $37.98 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The firm’s fifty day simple moving average is $132.58 and its 200-day simple moving average is $135.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a 1-year low of $119.61 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period last year, the company earned $2.20 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that The Hartford Insurance Group will post 12.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of HIG. Valeo Financial Advisors LLC raised its position in shares of The Hartford Insurance Group by 15.8% in the second quarter. Valeo Financial Advisors LLC now owns 2,006 shares of the insurance provider’s stock valued at $266,000 after purchasing an additional 273 shares during the period. Czech National Bank boosted its holdings in shares of The Hartford Insurance Group by 2.7% during the 2nd quarter. Czech National Bank now owns 78,028 shares of the insurance provider’s stock worth $10,340,000 after buying an additional 2,071 shares during the period. Apella Capital LLC acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at about $270,000. Balefire LLC grew its stake in The Hartford Insurance Group by 8.2% in the 2nd quarter. Balefire LLC now owns 2,228 shares of the insurance provider’s stock valued at $295,000 after buying an additional 169 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in The Hartford Insurance Group by 6.4% in the 2nd quarter. Versant Capital Management Inc now owns 1,443 shares of the insurance provider’s stock valued at $191,000 after acquiring an additional 87 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Insurance Group

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.