The Hartford Insurance Group (NYSE:HIG) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of The Hartford Insurance Group (NYSE:HIG) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage issued a peer perform rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays decreased their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Morgan Stanley lifted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. UBS Group lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $138.00.

The Hartford Insurance Group Stock Down 1.4%

Shares of The Hartford Insurance Group stock opened at $129.64 on Tuesday. The stock has a market capitalization of $36.45 billion, a P/E ratio of 11.75, a PEG ratio of 1.27 and a beta of 0.72. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $128.05 and a two-hundred day moving average price of $124.71. The Hartford Insurance Group has a 12-month low of $104.93 and a 12-month high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. Equities analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group’s payout ratio is currently 18.86%.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

A number of large investors have recently bought and sold shares of HIG. Quantinno Capital Management LP grew its position in The Hartford Insurance Group by 34.1% in the fourth quarter. Quantinno Capital Management LP now owns 25,135 shares of the insurance provider’s stock valued at $2,750,000 after acquiring an additional 6,391 shares during the period. Toronto Dominion Bank grew its position in The Hartford Insurance Group by 5.8% in the fourth quarter. Toronto Dominion Bank now owns 155,542 shares of the insurance provider’s stock valued at $17,016,000 after acquiring an additional 8,567 shares during the period. Tidal Investments LLC grew its position in The Hartford Insurance Group by 2.4% in the fourth quarter. Tidal Investments LLC now owns 18,200 shares of the insurance provider’s stock valued at $1,991,000 after acquiring an additional 426 shares during the period. Two Sigma Investments LP grew its position in The Hartford Insurance Group by 454.4% in the fourth quarter. Two Sigma Investments LP now owns 72,939 shares of the insurance provider’s stock valued at $7,980,000 after acquiring an additional 59,783 shares during the period. Finally, Two Sigma Advisers LP grew its position in The Hartford Insurance Group by 205.6% in the fourth quarter. Two Sigma Advisers LP now owns 38,500 shares of the insurance provider’s stock valued at $4,212,000 after acquiring an additional 25,900 shares during the period. 93.42% of the stock is currently owned by institutional investors.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.