The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised its price target on The Hartford Insurance Group from $142 to $143, keeping a market perform rating. The new target implies about 2.93% upside from the prior close.
• Other analysts remain generally constructive: the stock has a consensus Moderate Buy rating with an average target price of $147.38. Recent firm opinions have been mixed, with some trimming targets while maintaining buy/overweight views.
• The Hartford shares were down 0.5% to $138.92 in mid-day trading, after the company recently reported Q1 EPS of $3.09, which missed estimates, though revenue still rose 6.1% year over year.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price objective boosted by equities research analysts at Keefe, Bruyette & Woods from $142.00 to $143.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 2.93% from the company's previous close.

HIG has been the topic of several other research reports. Barclays dropped their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Cantor Fitzgerald decreased their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. UBS Group lowered their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Bank of America increased their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Finally, Piper Sandler decreased their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating for the company in a research note on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.38.

The Hartford Insurance Group Stock Down 0.5%

The Hartford Insurance Group stock traded down $0.72 during mid-day trading on Wednesday, reaching $138.92. The company's stock had a trading volume of 221,289 shares, compared to its average volume of 1,626,626. The company has a market capitalization of $38.08 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.47. The Hartford Insurance Group has a 12 month low of $119.61 and a 12 month high of $144.50. The business's 50 day simple moving average is $132.55 and its 200 day simple moving average is $135.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS 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 business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the firm earned $2.20 earnings per share. The company's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that The Hartford Insurance Group will post 12.9 earnings per share for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of HIG. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $26,000. Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group in the first quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group in the 3rd quarter worth about $29,000. Finally, United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter worth about $29,000. 93.42% of the stock is currently 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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