Wells Fargo & Company Cuts The Hartford Insurance Group (NYSE:HIG) Price Target to $164.00

The Hartford Insurance Group (NYSE:HIG) had its price objective cut by equities research analysts at Wells Fargo & Company from $165.00 to $164.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.73% from the company’s current price.

HIG has been the subject of a number of other reports. Bank of America boosted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Barclays lowered their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Piper Sandler restated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Finally, Cantor Fitzgerald increased their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $148.69.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $140.50 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $144.50. The firm’s 50 day moving average is $133.83 and its 200 day moving average is $135.49. The stock has a market capitalization of $38.06 billion, a P/E ratio of 9.08, a PEG ratio of 3.83 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group will post 12.69 earnings per share for the current year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group 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 value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Several large investors have recently added to or reduced their stakes in HIG. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter worth about $26,000. Phillip James Consulting Co. purchased a new position in The Hartford Insurance Group during the first quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group during the third quarter worth about $29,000. Finally, Sound Income Strategies LLC boosted its holdings in The Hartford Insurance Group by 45.3% in the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other 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.