The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $152.00

Key Points

• JPMorgan Chase raised its price target on The Hartford Insurance Group to $152 from $149, while keeping a neutral rating. The new target implies about 7.8% upside from the prior close.
• Analyst sentiment remains mixed: the stock now has a Hold consensus rating and a consensus target price of $148.75, with eight Buy ratings and ten Hold ratings among analysts tracked by MarketBeat.
• The Hartford recently reported Q1 earnings of $3.09 per share, missing estimates, though revenue rose 6.1% year over year. The stock traded around $140.98 in Monday trading, near its 52-week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from $149.00 to $152.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 7.82% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Barclays lowered their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, June 12th. Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 8th. Weiss Ratings cut The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th. Finally, Bank of America upped their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $148.75.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock traded up $0.72 during midday trading on Monday, hitting $140.98. The stock had a trading volume of 193,400 shares, compared to its average volume of 1,617,382. The Hartford Insurance Group has a 52-week low of $120.33 and a 52-week high of $144.50. The company has a market capitalization of $38.65 billion, a PE ratio of 9.90, a P/E/G ratio of 3.81 and a beta of 0.47. The firm's fifty day moving average is $133.04 and its two-hundred day moving average is $135.38. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share 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 the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business'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 earned $2.20 earnings per share. On average, research analysts forecast that The Hartford Insurance Group will post 12.74 EPS for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HIG. Northwestern Mutual Wealth Management Co. lifted its stake in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. Norges Bank purchased a new position in The Hartford Insurance Group during the 4th quarter valued at about $611,724,000. Allianz Asset Management GmbH increased its holdings in shares of The Hartford Insurance Group by 131.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider's stock valued at $224,901,000 after acquiring an additional 925,789 shares during the period. Balyasny Asset Management L.P. raised its position in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock worth $85,829,000 after acquiring an additional 633,592 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI raised its position in shares of The Hartford Insurance Group by 208.2% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider's stock worth $106,708,000 after acquiring an additional 540,445 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

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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