The Hartford Insurance Group (NYSE:HIG) Price Target Cut to $154.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on The Hartford Insurance Group from $165 to $154 while keeping an overweight rating, implying about 18.84% upside from the prior close.
• Other analysts have also adjusted their views recently, with several trimming targets; MarketBeat says the stock now carries an average Moderate Buy rating and a $148.19 average price target.
• The company reported Q1 earnings of $3.09 per share, below estimates of $3.39, even as revenue rose 6.1% year over year to $7.23 billion.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price objective decreased by stock analysts at Wells Fargo & Company from $165.00 to $154.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's target price points to a potential upside of 18.84% from the company's previous close.

Several other research firms also recently commented on HIG. UBS Group reduced their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Bank of America lifted their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Barclays reduced their target price on shares of 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. Weiss Ratings downgraded shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods lowered 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 report on Thursday. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $148.19.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $129.59 on Friday. The Hartford Insurance Group has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $35.52 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.47. The firm has a fifty day moving average price of $134.93 and a 200 day moving average price of $135.87.

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 (EPS) for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. As a group, sell-side analysts anticipate that The Hartford Insurance Group will post 13.17 EPS for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were 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 in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.30% of the company's stock.

Institutional Trading of The Hartford Insurance Group

Large investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of The Hartford Insurance Group in the first quarter worth $207,000. NewEdge Advisors LLC lifted its position in shares of The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock valued at $7,122,000 after acquiring an additional 886 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after acquiring an additional 6,285 shares during the last quarter. HUB Investment Partners LLC increased its position in The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after purchasing an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after purchasing an additional 39,220 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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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