Keefe, Bruyette & Woods Lowers The Hartford Insurance Group (NYSE:HIG) Price Target to $142.00

The Hartford Insurance Group (NYSE:HIG) had its target price reduced by analysts at Keefe, Bruyette & Woods from $149.00 to $142.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 12.56% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. UBS Group decreased 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 report on Monday, April 27th. Mizuho boosted their target price on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Bank of America boosted their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.88.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $126.15 on Thursday. The firm’s 50-day moving average price is $135.09 and its 200-day moving average price is $135.91. The Hartford Insurance Group has a 1-year low of $119.61 and a 1-year high of $144.50. The firm has a market capitalization of $34.58 billion, a P/E ratio of 8.87, a P/E/G ratio of 2.28 and a beta of 0.47. 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) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share 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 company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that The Hartford Insurance Group will post 13.17 earnings per share for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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 company. DV Trading LLC bought a new stake in The Hartford Insurance Group in the 1st quarter worth about $243,000. Parallel Advisors LLC grew its position in The Hartford Insurance Group by 4.2% in the 1st quarter. Parallel Advisors LLC now owns 17,156 shares of the insurance provider’s stock worth $2,320,000 after purchasing an additional 690 shares in the last quarter. NewEdge Advisors LLC grew its position in The Hartford Insurance Group by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 408,818 shares of the insurance provider’s stock worth $55,285,000 after purchasing an additional 23,730 shares in the last quarter. Bank of America Corp DE grew its position in The Hartford Insurance Group by 2.1% in the 1st quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock worth $518,150,000 after purchasing an additional 79,827 shares in the last quarter. Finally, Kentucky Retirement Systems grew its position in The Hartford Insurance Group by 109.3% in the 1st quarter. Kentucky Retirement Systems now owns 36,912 shares of the insurance provider’s stock worth $4,992,000 after purchasing an additional 19,276 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

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.