The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler has raised its price target for The Hartford Insurance Group from $145.00 to $150.00, indicating a potential upside of 13.37% from the current price.
• The Hartford Insurance Group reported $3.41 earnings per share for the latest quarter, surpassing expectations by $0.58, with a revenue of $6.99 billion.
• Recent analyses show an average target price of $138.00 for the stock, with ratings split between seven buy and seven hold ratings from different analysts.

The Hartford Insurance Group (NYSE:HIG - Free Report) had its price objective upped by Piper Sandler from $145.00 to $150.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider's stock.

A number of other equities analysts have also recently commented on the company. Raymond James Financial reissued an "outperform" rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Barclays reduced their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Morgan Stanley increased their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company increased their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock traded down $3.05 during trading hours on Tuesday, hitting $131.65. 1,975,142 shares of the stock traded hands, compared to its average volume of 1,215,685. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The firm's 50 day moving average price is $127.08 and its 200-day moving average price is $123.84. The stock has a market capitalization of $37.02 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.30 and a beta of 0.72. The Hartford Insurance Group has a 1 year low of $104.93 and a 1 year high of $135.17.

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

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is 18.86%.

Insider Transactions at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of institutional investors have recently modified their holdings of the company. NorthRock Partners LLC raised its position in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after buying an additional 80 shares during the last quarter. Wayfinding Financial LLC increased its stake in The Hartford Insurance Group by 3.0% in the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after acquiring an additional 84 shares during the period. Chicago Partners Investment Group LLC increased its stake in The Hartford Insurance Group by 3.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider's stock valued at $303,000 after acquiring an additional 85 shares during the period. Fidelis Capital Partners LLC increased its stake in The Hartford Insurance Group by 4.4% in the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider's stock valued at $262,000 after acquiring an additional 86 shares during the period. Finally, Wealthspire Advisors LLC increased its stake in The Hartford Insurance Group by 3.2% in the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after acquiring an additional 88 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Company Profile

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.