Wells Fargo & Company Has Lowered Expectations for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price target dropped by stock analysts at Wells Fargo & Company from $164.00 to $158.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 20.46% from the company’s current price.

Several other analysts have also issued reports on HIG. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. UBS Group lowered their price objective on The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Royal Bank Of Canada boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Finally, Morgan Stanley reduced their target price on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $145.25.

The Hartford Insurance Group Trading Up 0.8%

Shares of HIG stock opened at $131.17 on Monday. The Hartford Insurance Group has a 1 year low of $120.33 and a 1 year high of $146.07. The firm has a fifty day moving average price of $134.29 and a 200-day moving average price of $135.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.14 and a beta of 0.49.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the business posted $3.41 EPS. The Hartford Insurance Group’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that The Hartford Insurance Group will post 12.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. First Pacific Financial purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter worth $26,000. MidFirst Bank purchased a new position in shares of The Hartford Insurance Group during the second quarter valued at $26,000. Navigoe LLC purchased a new position in shares of The Hartford Insurance Group during the second quarter valued at $27,000. Polaris Financial Partners purchased a new position in shares of The Hartford Insurance Group during the third quarter valued at $27,000. Finally, Phillip James Consulting Co. bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

More The Hartford Insurance Group News

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Wells Fargo maintained its Buy/Overweight view on HIG, with a $158 price target. Although the target was reduced from $164, it still implies meaningful upside and signals continued confidence in Hartford’s valuation and earnings outlook. Wells Fargo Remains a Buy on Hartford Insurance
• Positive Sentiment: Hartford completed its acquisition of Equitable’s Employee Benefits business. The transaction expands Hartford’s employee-benefits operations and could provide additional scale, product capabilities and revenue opportunities, although the financial contribution and integration impact were not detailed in the report. The Hartford Closes Acquisition Of Equitable’s Employee Benefits Business
• Positive Sentiment: Analysts’ average price target is approximately $145.25, above the recent $131.17 reference price. This suggests consensus expects some recovery potential despite recent target reductions. The Hartford Insurance Group Stock Has Average Target Price of $145.25
• Neutral Sentiment: Truist initiated coverage with a Hold rating and a $137 target, indicating limited near-term upside and a wait-and-see stance. The Hartford Insurance Group Stock Picked Up by Analysts at Truist Financial
• Negative Sentiment: Keefe, Bruyette & Woods cut its target to $137 from $144 and assigned a Market Perform rating. Separately, the upcoming third-quarter earnings report is expected to show a double-digit year-over-year EPS decline, creating a near-term catalyst for caution. The Hartford Financial Services’ Quarterly Earnings Preview

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.