The Hartford Insurance Group (NYSE:HIG) Stock Price Target Cut by UBS Group

Key Points

• UBS Group lowered its price target for The Hartford Insurance Group from $155 to $149 while maintaining a “buy” rating, implying 17.18% upside from the prior close.
• Analyst sentiment is mixed: six analysts rate HIG a “buy” and 11 rate it a “hold,” producing an average rating of “Hold” and an average price target of $148.67.
• The Hartford reported quarterly EPS of $3.42, beating estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price target dropped by research analysts at UBS Group from $155.00 to $149.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the insurance provider's stock. UBS Group's price target indicates a potential upside of 17.18% from the company's previous close.

HIG has been the topic of a number of other research reports. Barclays reduced their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Mizuho lowered shares of The Hartford Insurance Group from an "outperform" rating to a "neutral" rating and cut their target price for the company from $163.00 to $154.00 in a report on Wednesday, September 16th. Royal Bank Of Canada boosted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Zacks Research upgraded shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $148.67.

The Hartford Insurance Group Price Performance

HIG stock traded up $0.95 during midday trading on Tuesday, hitting $127.16. The company's stock had a trading volume of 304,316 shares, compared to its average volume of 1,627,096. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $146.07. 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 firm has a market capitalization of $34.44 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 2.08 and a beta of 0.49. The company has a 50 day moving average of $136.01 and a two-hundred day moving average of $135.20.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $3.41 EPS. The Hartford Insurance Group's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts expect that The Hartford Insurance Group will post 12.79 EPS for the current year.

Hedge Funds Weigh In On The Hartford Insurance Group

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth $4,067,052,000. Dimensional Fund Advisors LP grew its position in shares of The Hartford Insurance Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider's stock worth $635,490,000 after buying an additional 72,448 shares during the last quarter. Bank of America Corp DE grew its position in shares of The Hartford Insurance Group by 2.1% in the 1st quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider's stock worth $518,150,000 after buying an additional 79,827 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of The Hartford Insurance Group by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 3,557,609 shares of the insurance provider's stock worth $490,239,000 after acquiring an additional 180,678 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in The Hartford Insurance Group by 5.8% in the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider's stock valued at $468,113,000 after acquiring an additional 189,916 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Company Profile

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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