Wells Fargo & Company Boosts The Hartford Insurance Group (NYSE:HIG) Price Target to $165.00

The Hartford Insurance Group (NYSE:HIG) had its price target boosted by equities researchers at Wells Fargo & Company from $154.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.10% from the stock’s current price.

A number of other research firms also recently issued reports on HIG. UBS Group cut their price objective 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. Bank of America raised 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 report on Tuesday, April 14th. Mizuho boosted their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler reduced their price target on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.50.

The Hartford Insurance Group Stock Performance

Shares of HIG traded down $0.20 during midday trading on Thursday, reaching $138.53. 474,029 shares of the stock were exchanged, compared to its average volume of 1,631,373. The Hartford Insurance Group has a twelve month low of $119.61 and a twelve month high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $37.98 billion, a P/E ratio of 9.75, a PEG ratio of 2.56 and a beta of 0.47. The stock’s 50 day simple moving average is $132.58 and its 200 day simple moving average is $135.43.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 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 analyst estimates of $7.41 billion. During the same quarter last year, the company posted $2.20 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Insurance Group will post 12.9 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 on 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 completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds have recently modified their holdings of HIG. Northwestern Mutual Wealth Management Co. grew its holdings in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. State Street Corp lifted its stake in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the period. Geode Capital Management LLC boosted its position in shares of The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after purchasing an additional 34,274 shares in the last quarter. Invesco Ltd. boosted its position in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after purchasing an additional 496,821 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in The Hartford Insurance Group by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock worth $635,490,000 after purchasing an additional 72,448 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.