The Hartford Insurance Group (NYSE:HIG) Price Target Lowered to $148.00 at Piper Sandler

by · The Cerbat Gem

The Hartford Insurance Group (NYSE:HIG – Get Free Report) had its price objective dropped by investment analysts at Piper Sandler from $154.00 to $148.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective points to a potential upside of 14.47% from the company’s previous close.

A number of other research firms have also recently issued reports on HIG. Keefe, Bruyette & Woods decreased their target price on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. UBS Group dropped 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 report on Monday, April 27th. Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Bank of America lifted their price target on shares of 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, Wells Fargo & Company lowered their price objective on shares of 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. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $147.38.

Check Out Our Latest Report on The Hartford Insurance Group

The Hartford Insurance Group Price Performance

NYSE HIG traded up $0.03 on Thursday, hitting $129.29. 117,811 shares of the company’s stock were exchanged, compared to its average volume of 1,596,132. The stock has a 50-day moving average of $134.58 and a 200-day moving average of $135.77. The stock has a market cap of $35.44 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 2.32 and a beta of 0.47. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. 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 Hartford Insurance Group (NYSE:HIG – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that The Hartford Insurance Group will post 13.12 earnings per share for the current year.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’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 value of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the period. Norges Bank acquired a new stake in The Hartford Insurance Group in the fourth quarter valued at $611,724,000. Allianz Asset Management GmbH raised its position in The Hartford Insurance Group by 131.1% during the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after purchasing an additional 925,789 shares during the last quarter. Danske Bank A S bought a new position in The Hartford Insurance Group during the 3rd quarter worth $91,398,000. Finally, Balyasny Asset Management L.P. lifted its holdings in The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after buying an additional 633,592 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Company Profile

(Get Free Report)

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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