The Hartford Insurance Group (NYSE:HIG) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target for The Hartford Insurance Group from $145 to $150 while maintaining a “sector perform” rating, implying 6.29% upside from the previous close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $149; eight analysts rate the stock a Buy and ten rate it a Hold.
• The Hartford reported quarterly EPS of $3.42, beating estimates of $3.16, while revenue reached $7.26 billion and increased 8.1% year over year. Shares traded at $141.12, near their 52-week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its price objective increased by Royal Bank Of Canada from $145.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the insurance provider's stock. Royal Bank Of Canada's target price would indicate a potential upside of 6.29% from the company's previous close.

Several other research firms have also recently issued reports on HIG. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday. UBS Group cut their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald lifted their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Finally, Bank of America boosted their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $149.00.

The Hartford Insurance Group Stock Performance

HIG traded up $0.59 during trading on Monday, hitting $141.12. The company's stock had a trading volume of 325,714 shares, compared to its average volume of 1,627,921. The Hartford Insurance Group has a one year low of $120.33 and a one year high of $144.50. The business's 50 day simple moving average is $133.83 and its 200-day simple moving average is $135.49. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market cap of $38.23 billion, a PE ratio of 9.12, a P/E/G ratio of 3.83 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 EPS. As a group, sell-side analysts predict that The Hartford Insurance Group will post 12.69 EPS for the current fiscal year.

Insider Buying and Selling at The Hartford Insurance Group

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

Institutional Trading of The Hartford Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Pacific Financial purchased a new position in shares of The Hartford Insurance Group during the 1st quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new position in The Hartford Insurance Group in the first quarter valued at $29,000. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC grew its holdings in The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock worth $36,000 after acquiring an additional 87 shares in the last quarter. 93.42% of the stock is 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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