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

Key Points

• UBS Group raised its target price for The Hartford Insurance Group (NYSE:HIG) from $150.00 to $152.00, indicating a potential upside of 13.83% from the stock's previous close.
• Overall, analysts show a positive outlook with one Strong Buy, seven Buy, and nine Hold ratings, while the average target price is $138.93.
• The Hartford Insurance Group reported earnings of $3.41 per share for the last quarter, exceeding expectations and displaying a 7.7% year-over-year revenue growth.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price boosted by analysts at UBS Group from $150.00 to $152.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the insurance provider's stock. UBS Group's target price would indicate a potential upside of 13.83% from the stock's previous close.

Several other research analysts have also weighed in on HIG. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 target price on the stock. Citigroup assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Finally, Piper Sandler boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $138.93.

The Hartford Insurance Group Trading Down 0.2%

Shares of NYSE:HIG traded down $0.27 during midday trading on Wednesday, hitting $133.54. The company had a trading volume of 209,230 shares, compared to its average volume of 1,599,281. The Hartford Insurance Group has a 12 month low of $104.93 and a 12 month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a market cap of $37.55 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.28 and a beta of 0.69. The firm has a fifty day simple moving average of $131.05 and a 200 day simple moving average of $126.16.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. On average, analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current year.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its position in The Hartford Insurance Group by 167.8% during the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after buying an additional 198 shares in the last quarter. Sharp Financial Services LLC acquired a new stake in The Hartford Insurance Group during the first quarter worth approximately $260,000. Oppenheimer & Co. Inc. grew its position in The Hartford Insurance Group by 86.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after buying an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in The Hartford Insurance Group during the first quarter worth approximately $233,000. Finally, Aurora Investment Counsel acquired a new stake in The Hartford Insurance Group during the first quarter worth approximately $2,434,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Company Profile

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.

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