Mizuho Boosts The Hartford Insurance Group (NYSE:HIG) Price Target to $159.00

Key Points

• Mizuho raised its price target on The Hartford (NYSE:HIG) to $159 (from $158) and kept an "outperform" rating, implying roughly a 14.64% upside from the current share price.
• Analysts are mixed but generally positive: several firms have nudged targets higher (Wells Fargo to $160), MarketBeat's consensus target is $149.31, and the company reported an EPS miss of $3.09 vs. $3.39 estimate while revenue rose 6.1% year-over-year; HIG trades at a P/E of 9.75.
• Insiders have been net sellers recently—selling 349,282 shares worth about $48.18 million over the last three months—while institutional investors own 93.42% of the stock.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price target increased by stock analysts at Mizuho from $158.00 to $159.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the insurance provider's stock. Mizuho's target price indicates a potential upside of 14.64% from the company's current price.

HIG has been the topic of several other reports. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley increased their price objective on shares of 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. Cantor Fitzgerald decreased their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Finally, Bank of America lifted their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $149.31.

The Hartford Insurance Group Stock Up 1.5%

Shares of The Hartford Insurance Group stock opened at $138.70 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group has a 12-month low of $119.61 and a 12-month high of $144.50. The company has a market cap of $38.02 billion, a P/E ratio of 9.75, a PEG ratio of 1.25 and a beta of 0.53. The company's fifty day simple moving average is $137.57 and its two-hundred day simple moving average is $134.81.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm posted $2.20 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts anticipate that The Hartford Insurance Group will post 13.36 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Swift sold 100,970 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the completion of the sale, the chief executive officer owned 194,817 shares in the company, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 349,282 shares of company stock valued at $48,184,324 over the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. State Street Corp raised its position in The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock valued at $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Geode Capital Management LLC lifted its holdings in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock valued at $1,091,440,000 after acquiring an additional 34,274 shares during the period. Invesco Ltd. increased its holdings in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after buying an additional 496,821 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of The Hartford Insurance Group in the fourth quarter worth approximately $611,724,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Company Profile

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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