The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $143.00

Key Points

• JPMorgan Chase & Co. has raised the price target for The Hartford Insurance Group (NYSE:HIG) from $142.00 to $143.00, indicating a potential upside of 8.57%.
• Several other analysts have also lifted their ratings and price targets for the stock, with Cantor Fitzgerald setting a target of $152.00 and Wells Fargo increasing theirs to $147.00.
• The Hartford Insurance Group reported a Q2 EPS of $3.41, surpassing analysts' estimates by $0.58 and reflecting a 7.7% revenue increase compared to the previous year.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $142.00 to $143.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the insurance provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 8.57% from the company's current price.

HIG has been the topic of a number of other reports. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price on the stock. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an "overweight" rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, The Hartford Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $139.00.

The Hartford Insurance Group Stock Performance

NYSE:HIG traded down $1.30 on Thursday, reaching $131.71. 114,851 shares of the company's stock were exchanged, compared to its average volume of 1,595,623. 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 has a market cap of $37.03 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.29 and a beta of 0.69. The Hartford Insurance Group has a 52 week low of $104.93 and a 52 week high of $135.17. The stock has a fifty day simple moving average of $131.22 and a 200-day simple moving average of $126.21.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the business earned $2.50 earnings per share. The Hartford Insurance Group's revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred 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. Insiders own 1.50% of the company's stock.

Institutional Trading of The Hartford Insurance Group

Institutional investors have recently bought and sold shares of the stock. Daymark Wealth Partners LLC purchased a new stake in The Hartford Insurance Group in the first quarter worth $202,000. Farther Finance Advisors LLC increased its stake in shares of The Hartford Insurance Group by 59.6% during the first quarter. Farther Finance Advisors LLC now owns 5,026 shares of the insurance provider's stock valued at $625,000 after buying an additional 1,877 shares during the period. GAMMA Investing LLC increased its stake in shares of The Hartford Insurance Group by 14.4% during the first quarter. GAMMA Investing LLC now owns 11,509 shares of the insurance provider's stock valued at $1,424,000 after buying an additional 1,445 shares during the period. Handelsbanken Fonder AB increased its stake in shares of The Hartford Insurance Group by 3.0% during the first quarter. Handelsbanken Fonder AB now owns 48,709 shares of the insurance provider's stock valued at $6,027,000 after buying an additional 1,407 shares during the period. Finally, Simon Quick Advisors LLC purchased a new position in shares of The Hartford Insurance Group during the first quarter valued at $243,000. 93.42% of the stock is currently owned by institutional investors.

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.

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