Keefe, Bruyette & Woods Issues Pessimistic Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

Key Points

• Keefe, Bruyette & Woods lowered its price target for The Hartford Insurance Group from $144 to $137 while maintaining a “market perform” rating, implying roughly 5% upside from the stock’s current price.
• Several other brokerages also reduced their targets, and analyst sentiment remains cautious: HIG has a consensus “Hold” rating and an average target price of $145.25.
• HIG shares rose 1.1% to $130.47, while the company’s latest quarterly results exceeded expectations with $3.42 in EPS and $7.26 billion in revenue; institutional investors own 93.42% of the stock.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price target dropped by equities research analysts at Keefe, Bruyette & Woods from $144.00 to $137.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 5.00% from the stock's current price.

A number of other brokerages have also issued reports on HIG. Piper Sandler reissued a "neutral" rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Mizuho dropped their price target on The Hartford Insurance Group from $154.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. Wells Fargo & Company cut their price target on The Hartford Insurance Group from $164.00 to $158.00 and set an "overweight" rating on the stock in a research note on Monday. UBS Group dropped their target price on The Hartford Insurance Group from $155.00 to $149.00 and set a "buy" rating on the stock in a research report on Tuesday, October 6th. Finally, Truist Financial initiated coverage on The Hartford Insurance Group in a research note on Monday. They issued a "hold" rating and a $137.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $145.25.

The Hartford Insurance Group Trading Up 1.1%

HIG traded up $1.36 on Monday, hitting $130.47. The company had a trading volume of 400,591 shares, compared to its average volume of 1,623,427. The company has a market cap of $35.34 billion, a PE ratio of 8.43, a PEG ratio of 2.13 and a beta of 0.49. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $146.07. The business's fifty day simple moving average is $134.76 and its 200 day simple moving average is $135.06. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group will post 12.85 EPS for the current year.

Institutional Investors Weigh In On The Hartford Insurance Group

Large investors have recently made changes to their positions in the stock. Riversedge Advisors LLC raised its position in shares of The Hartford Insurance Group by 33.3% during the 3rd quarter. Riversedge Advisors LLC now owns 3,092 shares of the insurance provider's stock valued at $378,000 after buying an additional 773 shares during the period. Wedmont Private Capital raised its position in The Hartford Insurance Group by 2.9% in the third quarter. Wedmont Private Capital now owns 5,320 shares of the insurance provider's stock valued at $689,000 after purchasing an additional 151 shares during the period. Mn Services Vermogensbeheer B.V. lifted its stake in shares of The Hartford Insurance Group by 4.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 81,626 shares of the insurance provider's stock valued at $9,988,000 after purchasing an additional 3,600 shares during the last quarter. Acropolis Investment Management LLC lifted its stake in shares of The Hartford Insurance Group by 50.3% in the 3rd quarter. Acropolis Investment Management LLC now owns 2,400 shares of the insurance provider's stock valued at $294,000 after purchasing an additional 803 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of The Hartford Insurance Group by 2.4% during the 3rd quarter. GAMMA Investing LLC now owns 15,817 shares of the insurance provider's stock worth $1,935,000 after purchasing an additional 373 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

About The Hartford Insurance Group

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.

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