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

Key Points

• Keefe, Bruyette & Woods raised their price target for The Hartford Insurance Group (NYSE:HIG) from $135.00 to $137.00, indicating a potential upside of 9.17%
• Other analysts, including UBS Group and JPMorgan Chase & Co., have also increased their price targets for the stock, reflecting a generally positive outlook among research firms.
• The Hartford's recent earnings report showed an EPS of $3.41, significantly exceeding the consensus estimate of $2.83, alongside a year-over-year revenue increase of 7.7%.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $135.00 to $137.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 9.17% from the stock's current price.

A number of other research firms have also commented on HIG. UBS Group upped their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday. Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $136.42.

The Hartford Insurance Group Stock Performance

Shares of HIG traded up $2.49 during midday trading on Monday, reaching $125.49. The stock had a trading volume of 401,729 shares, compared to its average volume of 1,670,204. The firm has a 50 day simple moving average of $125.05 and a 200-day simple moving average of $120.73. The Hartford Insurance Group has a one year low of $103.96 and a one year high of $132.09. The firm has a market cap of $35.28 billion, a PE ratio of 11.38, a P/E/G ratio of 1.22 and a beta of 0.67. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The Hartford Insurance Group's revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Wealth Management Group LLC boosted its position in shares of The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 133 shares during the last quarter. Park Square Financial Group LLC lifted its position in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group during the first quarter valued at $33,000. Meeder Asset Management Inc. increased its stake in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after buying an additional 161 shares during the period. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of The Hartford Insurance Group during the fourth quarter worth about $33,000. 93.42% of the stock is currently owned by institutional investors.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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