The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $138.00 at Bank of America

Key Points

• Bank of America raised its price target on The Hartford to $138.00 with a "neutral" rating (implying ~0.5% downside), while the sell‑side consensus target is higher at $149.56 and the average analyst view is "Moderate Buy."
• The Hartford reported a strong quarter—EPS $4.06 vs. $3.22 expected and revenue of $7.31B—while trading at a P/E of 10.4 and a market cap of about $38.3B.
• Company insiders have been net sellers recently (CEO Christopher Swift sold ~100,970 shares), with insiders offloading 349,282 shares (~$48.2M) over 90 days, even as institutional ownership remains very high (~93.4%).

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price target upped by Bank of America from $136.00 to $138.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the insurance provider's stock. Bank of America's target price suggests a potential downside of 0.53% from the stock's current price.

Several other brokerages have also recently commented on HIG. Mizuho began coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They set an "outperform" rating and a $160.00 price target for the company. Piper Sandler increased their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an "overweight" rating in a research report on Monday, December 22nd. Evercore increased their price target on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an "in-line" rating in a research report on Wednesday, January 7th. Wells Fargo & Company increased their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Roth Mkm increased their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $149.56.

The Hartford Insurance Group Stock Down 0.2%

NYSE HIG traded down $0.34 during trading hours on Tuesday, hitting $138.73. 367,769 shares of the company traded hands, compared to its average volume of 1,535,304. The business's 50-day moving average is $138.14 and its 200-day moving average is $134.42. The Hartford Insurance Group has a twelve month low of $113.27 and a twelve month high of $144.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $38.27 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.33 and a beta of 0.53.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same period in the prior year, the firm posted $2.94 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company's stock, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction that occurred on 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 sale, the executive vice president directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 349,282 shares of company stock valued at $48,184,324. Insiders own 1.60% of the company's stock.

Institutional Trading of The Hartford Insurance Group

Several hedge funds have recently added to or reduced their stakes in the company. Haven Private LLC lifted its holdings in The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock worth $930,000 after purchasing an additional 71 shares during the last quarter. Signal Advisors Wealth LLC lifted its holdings in The Hartford Insurance Group by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock worth $240,000 after purchasing an additional 75 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in The Hartford Insurance Group by 40.3% during the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock worth $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in The Hartford Insurance Group by 0.4% during the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock worth $2,432,000 after purchasing an additional 79 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its holdings in The Hartford Insurance Group by 5.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider's stock worth $195,000 after purchasing an additional 80 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Company Profile

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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