The Hartford Insurance Group Sees Stock Price Target Increase from Analysts

HARTFORD, Conn. — The Hartford Insurance Group had its target price raised from $140.00 to $142.00 according to a research report released Tuesday morning

Several research analysts have recently reassessed their positions regarding The Hartford, known as HIG. On March 31, Raymond James raised their target from $125.00 to $135.00 and rated the stock as “outperform.” Meanwhile, Morgan Stanley adjusted their price objective upward from $115.00 to $130.00, maintaining an “equal weight” rating.

Additionally, UBS Group increased their target from $142.00 to $145.00, assigning a “buy” rating on July 9. However, Keefe, Bruyette & Woods lowered their target from $140.00 to $133.00 while still suggesting an “outperform” rating. And on July 10, Wells Fargo upgraded their price target from $134.00 to $138.00, also labeling it as “overweight.” Overall, six analysts hold a ‘hold’ rating, seven a ‘buy,’ and one a ‘strong buy,’ according to MarketBeat.com.

As for HIG’s performance, the stock opened at $124.36 on Tuesday. Its fifty-day moving average is $125.17 while the two-hundred-day moving average stands at $120.51. The company’s market capitalization is at $34.97 billion, with a price-to-earnings ratio of 11.27 and a PEG ratio of 1.25. The stock’s fifty-two week low is $103.96 and its high is $132.09.

On July 28, The Hartford announced their quarterly earnings, reporting earnings per share of $3.41, exceeding expectations by $0.58. The company generated $6.99 billion in revenue, slightly below analyst forecasts of $7.02 billion. They experienced a return on equity of 19.60% and a net margin of 11.83%, which reflects a 7.7% increase in revenue from the same quarter last year.

The Hartford is slated to pay a quarterly dividend of $0.52 on October 2, with shareholders of record on September 2 eligible for the payout. This sets an annualized dividend at $2.08 and a yield of 1.7%. The company’s current dividend payout ratio stands at 18.86%.

Recent institutional activity also highlights growing confidence in The Hartford. New Age Alpha Advisors LLC boosted its holdings by 3,110.5% in the fourth quarter, owning 4,880 shares worth $534,000. Other firms like Allstate Corp and National Bank of Canada have also increased their stakes, now holding significant shares of the company.

The Hartford Financial Services Group, Inc., along with its subsidiaries, provides various insurance and financial services to customers both in the U.S. and internationally, covering a broad range of insurance products.