The Hartford Insurance Group (NYSE:HIG) Given New $137.00 Price Target at Evercore ISI

Key Points

• The Hartford Insurance Group's target price has been raised from $133.00 to $137.00 by Evercore ISI, indicating a potential upside of 2.16% from its current price.
• Seven analysts have rated the stock as a Buy while nine others have a Hold rating, leading to an average consensus price target of $137.93.
• The company's recent quarterly earnings showed a beat with $3.41 earnings per share, surpassing estimates by $0.58, and marking a 7.7% year-over-year revenue increase.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price raised by equities researchers at Evercore ISI from $133.00 to $137.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "in-line" rating on the insurance provider's stock. Evercore ISI's price objective would suggest a potential upside of 2.16% from the company's current price.

A number of other research analysts have also weighed in on the company. Piper Sandler boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Citigroup began coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Wall Street Zen lowered The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $137.93.

The Hartford Insurance Group Stock Up 0.5%

Shares of NYSE:HIG traded up $0.72 during trading on Wednesday, hitting $134.11. 212,706 shares of the company were exchanged, compared to its average volume of 1,609,085. The stock has a market cap of $37.71 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.28 and a beta of 0.72. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The firm has a fifty day moving average price of $130.05 and a two-hundred day moving average price of $125.69. 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 posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, research analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in shares of The Hartford Insurance Group by 66.4% during the 1st quarter. Versant Capital Management Inc now owns 782 shares of the insurance provider's stock worth $97,000 after buying an additional 312 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of The Hartford Insurance Group by 17.5% during the 1st quarter. Merit Financial Group LLC now owns 8,317 shares of the insurance provider's stock worth $1,029,000 after buying an additional 1,239 shares during the last quarter. Cathy Pareto & Associates Inc. bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $216,000. Financial Advisory Partners LLC lifted its position in shares of The Hartford Insurance Group by 0.6% during the 1st quarter. Financial Advisory Partners LLC now owns 25,909 shares of the insurance provider's stock worth $3,206,000 after buying an additional 164 shares during the last quarter. Finally, Vest Financial LLC lifted its position in shares of The Hartford Insurance Group by 9.6% during the 1st quarter. Vest Financial LLC now owns 327,478 shares of the insurance provider's stock worth $40,519,000 after buying an additional 28,594 shares during the last quarter. 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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