UBS Group Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG - Free Report) had its price objective raised by UBS Group from $142.00 to $145.00 in a report published on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the insurance provider's stock.

HIG has been the topic of a number of other reports. Piper Sandler raised their price objective on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Barclays reduced their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Wells Fargo & Company reduced their price target on shares of The Hartford Insurance Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $133.67.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded down $1.15 during midday trading on Wednesday, reaching $120.80. The company had a trading volume of 1,124,566 shares, compared to its average volume of 1,592,594. The Hartford Insurance Group has a 1-year low of $101.02 and a 1-year high of $132.09. The company has a market capitalization of $34.32 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.18 and a beta of 0.69. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $126.84 and a 200 day simple moving average of $119.21.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the firm earned $2.34 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd were issued a dividend of $0.52 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.72%. The Hartford Insurance Group's payout ratio is 20.74%.

Insider Activity at The Hartford Insurance Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president directly owned 622 shares in the company, valued at $74,279.24. This trade represents a 63.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC increased its stake in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after buying an additional 198 shares during the last quarter. Sharp Financial Services LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $260,000. Oppenheimer & Co. Inc. increased its stake in shares of The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after purchasing an additional 2,000 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $287,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $586,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.