The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price lifted by equities research analysts at Wells Fargo & Company from $134.00 to $138.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 14.24% from the stock's current price.

A number of other analysts have also commented on HIG. Morgan Stanley increased their price objective on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler increased their price objective on The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. UBS Group raised their price target on The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Raymond James Financial raised their price target on The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $133.67.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG traded down $1.15 during trading on Thursday, reaching $120.80. The company had a trading volume of 1,124,520 shares, compared to its average volume of 1,591,050. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.18 and a beta of 0.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.31 and a quick ratio of 0.31. The stock's fifty day moving average price is $126.93 and its 200 day moving average price is $119.14. The Hartford Insurance Group has a fifty-two week low of $99.65 and a fifty-two week high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, equities research analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president owned 622 shares in the company, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC increased its holdings in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Spurstone Advisory Services LLC acquired a new stake in The Hartford Insurance Group during the 4th quarter valued at $33,000. Center for Financial Planning Inc. acquired a new stake in The Hartford Insurance Group during the 1st quarter valued at $33,000. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Insurance Group during the 4th quarter valued at $35,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at $36,000. Institutional investors own 93.42% of the company's stock.

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.