Mizuho Lowers The Hartford Insurance Group (NYSE:HIG) Price Target to $154.00

Key Points

• Mizuho lowered its price target on The Hartford Insurance Group (NYSE:HIG) from $159 to $154, while keeping an outperform rating. The new target still implies about 18.84% upside from the prior close.
• The company’s latest quarterly results missed analyst expectations, with EPS of $3.09 versus $3.39 expected and revenue of $7.23 billion versus $7.41 billion projected. Revenue still rose 6.1% year over year.
• Analyst sentiment remains mixed: nine analysts rate the stock Buy and nine rate it Hold, with an average Moderate Buy rating and average target price of $148.19.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price reduced by research analysts at Mizuho from $159.00 to $154.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Mizuho's price objective would indicate a potential upside of 18.84% from the stock's previous close.

Several other research analysts have also recently issued reports on HIG. Wells Fargo & Company raised their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Keefe, Bruyette & Woods cut their price target on The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating on the stock in a research report on Thursday. Cantor Fitzgerald reduced their price objective on 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. Barclays decreased their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, April 24th. Finally, Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group has an average rating of "Moderate Buy" and an average target price of $148.19.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $129.59 on Friday. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The business's 50 day moving average price is $134.93 and its 200 day moving average price is $135.87. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a market cap of $35.52 billion, a P/E ratio of 9.12, a P/E/G ratio of 2.26 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The business had revenue of $7.23 billion for the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 earnings per share. On average, sell-side analysts expect that The Hartford Insurance Group will post 13.17 earnings per share for the current year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company's stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Large investors have recently added to or reduced their stakes in the business. Haven Private LLC lifted its stake in The Hartford Insurance Group by 1.1% in the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock valued at $930,000 after purchasing an additional 71 shares during the last quarter. Signal Advisors Wealth LLC raised its stake in The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock valued at $240,000 after buying an additional 75 shares during the period. GW&K Investment Management LLC raised its stake in The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock valued at $37,000 after buying an additional 77 shares during the period. Kestra Advisory Services LLC lifted its position in shares of The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock valued at $2,432,000 after buying an additional 79 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in shares of The Hartford Insurance Group by 3.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock worth $305,000 after acquiring an additional 82 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

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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