The Hartford Insurance Group (NYSE:HIG) Price Target Raised to $163.00

Key Points

• Mizuho raised its price target on The Hartford Insurance Group from $154 to $163 and reiterated an outperform rating, implying about 17.46% upside from the current share price.
• Other analysts have been mixed: UBS, Wells Fargo, Piper Sandler, and KBW all recently adjusted their targets, while the overall consensus remains Moderate Buy with an average target price of $147.94.
• The company recently reported Q1 earnings of $3.09 per share, missing estimates, though revenue still rose 6.1% year over year; shares opened at $138.77 on Thursday.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price upped by equities researchers at Mizuho from $154.00 to $163.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Mizuho's price objective would suggest a potential upside of 17.46% from the company's current price.

Several other brokerages also recently issued reports on HIG. UBS Group lowered their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 27th. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating for the company in a research report on Friday, June 5th. Piper Sandler dropped their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a report on Thursday, June 11th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "market perform" rating in a research note on Wednesday. Finally, Weiss Ratings cut shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $147.94.

The Hartford Insurance Group Trading Up 0.0%

NYSE HIG opened at $138.77 on Thursday. The Hartford Insurance Group has a 12 month low of $119.61 and a 12 month high of $144.50. The stock has a 50-day simple moving average of $132.58 and a 200 day simple moving average of $135.43. 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 company has a market capitalization of $38.04 billion, a PE ratio of 9.79, a P/E/G ratio of 2.56 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that The Hartford Insurance Group will post 12.9 EPS for the current year.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred 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 owned 38,208 shares of the company's stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. Norges Bank bought a new position in The Hartford Insurance Group during the fourth quarter worth about $611,724,000. Allianz Asset Management GmbH increased its position in The Hartford Insurance Group by 131.1% during the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider's stock worth $224,901,000 after buying an additional 925,789 shares during the last quarter. Danske Bank A S acquired a new position in The Hartford Insurance Group during the third quarter worth approximately $91,398,000. Finally, Balyasny Asset Management L.P. raised its stake in The Hartford Insurance Group by 6,431.8% in the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock valued at $85,829,000 after buying an additional 633,592 shares during the period. 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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