Cantor Fitzgerald Cuts The Hartford Insurance Group (NYSE:HIG) Price Target to $160.00

Key Points

• Cantor Fitzgerald lowered its target on The Hartford from $165 to $160 but kept an "overweight" rating, implying roughly a 14.6% upside from the prior close.
• Analysts' consensus is a Moderate Buy with an average price target of $148 while HIG trades near $139.64 (market cap ~$38.5B, P/E 10.46), with recent targets ranging roughly $142–$156.
• The Hartford reported a strong quarterly beat (EPS $4.06 vs. $3.22 expected; revenue +6.7% YoY), even as insiders sold about 349,282 shares (~$48.2M) in the past 90 days, reducing insider ownership to 1.5%.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price dropped by equities research analysts at Cantor Fitzgerald from $165.00 to $160.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. Cantor Fitzgerald's price objective points to a potential upside of 14.58% from the stock's previous close.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upped their price target on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Morgan Stanley boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Citigroup upped their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $148.00.

The Hartford Insurance Group Trading Up 0.5%

HIG traded up $0.74 during trading on Thursday, reaching $139.64. The company had a trading volume of 54,887 shares, compared to its average volume of 1,545,071. 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 business has a 50 day simple moving average of $137.89 and a 200-day simple moving average of $134.24. The stock has a market cap of $38.52 billion, a P/E ratio of 10.46, a PEG ratio of 1.32 and a beta of 0.53. The Hartford Insurance Group has a 52 week low of $112.81 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.94 earnings per share. On average, equities analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the sale, the chief executive officer directly owned 194,817 shares of the company's stock, valued at $26,574,986.97. This represents a 50.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 349,282 shares of company stock worth $48,184,324 over the last 90 days. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors have recently added to or reduced their stakes in the business. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $26,000. Princeton Global Asset Management LLC purchased a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its stake in The Hartford Insurance Group by 707.7% during the 3rd 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 in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group in the third quarter worth $29,000. Finally, United Financial Planning Group LLC purchased a new position 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, 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.

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