The Hartford Insurance Group (NYSE:HIG) Stock Price Target Lowered at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered The Hartford’s price target from $145 to $136 while maintaining an “overweight” rating, implying 2.49% upside from the previous close.
• Analyst sentiment is mixed, with the stock carrying an overall “Hold” consensus and an average price target of $144.69.
• The Hartford reported quarterly EPS of $3.50, beating estimates of $3.17, while revenue reached $7.22 billion and increased 3.9% year over year.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price target cut by analysts at Cantor Fitzgerald from $145.00 to $136.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the insurance provider's stock. Cantor Fitzgerald's price objective suggests a potential upside of 2.49% from the company's previous close.

HIG has been the topic of several other reports. Mizuho reduced their target price on The Hartford Insurance Group from $154.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday, October 7th. Weiss Ratings raised The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Zacks Research upgraded The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. UBS Group lowered their target price on The Hartford Insurance Group from $155.00 to $149.00 and set a "buy" rating for the company in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $144.69.

The Hartford Insurance Group Trading Up 0.1%

Shares of HIG stock opened at $132.69 on Monday. The Hartford Insurance Group has a 12 month low of $120.42 and a 12 month high of $146.07. The company has a market cap of $35.48 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.48. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $132.97 and its two-hundred day moving average is $135.36.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.33. The business had revenue of $7.22 billion during the quarter, compared to the consensus estimate of $7.37 billion. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The Hartford Insurance Group's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.78 EPS. Equities analysts predict that The Hartford Insurance Group will post 13.18 EPS for the current year.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $4,067,052,000. Bank of America Corp DE acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $350,777,000. Legal & General Group Plc acquired a new position in The Hartford Insurance Group during the second quarter worth $346,877,000. Bank of New York Mellon Corp acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at $337,907,000. Finally, Deutsche Bank AG acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at $145,575,000. 93.42% of the stock is currently owned by institutional investors.

About The Hartford Insurance Group

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford's commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers' compensation, property, general liability, and specialty insurance.

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