The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $158.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its price target on The Hartford Insurance Group (NYSE:HIG) to $158 from $156 and kept an overweight rating, implying about 13.4% upside from the current price.
• Other analysts remain generally constructive but mixed, with recent target adjustments from Barclays, UBS, Bank of America, and Keefe, Bruyette & Woods; the stock now carries a consensus Moderate Buy rating and a consensus price target of $147.81.
• The Hartford recently traded at $139.32 and reported quarterly EPS of $3.09, missing estimates, while revenue came in at $7.23 billion and rose 6.1% year over year.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price objective lifted by stock analysts at Cantor Fitzgerald from $156.00 to $158.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the insurance provider's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 13.41% from the stock's current price.

HIG has been the subject of several other reports. Barclays decreased their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research report on Friday, June 12th. UBS Group reduced their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Bank of America boosted 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 report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.81.

The Hartford Insurance Group Price Performance

HIG traded up $0.58 on Thursday, hitting $139.32. 110,502 shares of the company's stock traded hands, compared to its average volume of 1,628,552. 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 has a one year low of $119.61 and a one year high of $144.50. The company's 50 day simple moving average is $132.58 and its 200-day simple moving average is $135.43. The firm has a market cap of $38.19 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 2.56 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. As a group, research analysts anticipate that The Hartford Insurance Group will post 12.9 EPS for the current year.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the business's 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of large investors have recently bought and sold shares of HIG. Valeo Financial Advisors LLC increased its holdings in shares of The Hartford Insurance Group by 15.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,006 shares of the insurance provider's stock valued at $266,000 after purchasing an additional 273 shares in the last quarter. Czech National Bank boosted its holdings in The Hartford Insurance Group by 2.7% during the second quarter. Czech National Bank now owns 78,028 shares of the insurance provider's stock worth $10,340,000 after buying an additional 2,071 shares in the last quarter. Apella Capital LLC acquired a new stake in The Hartford Insurance Group during the second quarter valued at $270,000. Balefire LLC grew its position in The Hartford Insurance Group by 8.2% during the second quarter. Balefire LLC now owns 2,228 shares of the insurance provider's stock valued at $295,000 after buying an additional 169 shares during the period. Finally, Versant Capital Management Inc increased its holdings in The Hartford Insurance Group by 6.4% in the second quarter. Versant Capital Management Inc now owns 1,443 shares of the insurance provider's stock valued at $191,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

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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