The Hartford Insurance Group, Inc. (NYSE:HIG) Given Average Recommendation of “Moderate Buy” by Analysts

The Hartford Insurance Group, Inc. (NYSE:HIG) has received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $140.8571.

A number of brokerages recently issued reports on HIG. Morgan Stanley increased their price target on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Citigroup initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Piper Sandler raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $136.34 on Friday. The Hartford Insurance Group has a 52 week low of $104.93 and a 52 week high of $137.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The firm’s 50-day simple moving average is $129.66 and its 200 day simple moving average is $128.31. The firm has a market cap of $37.99 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm posted $2.53 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s payout ratio is 19.61%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC boosted its stake in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $27,000. Private Wealth Management Group LLC boosted its position in The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 133 shares in the last quarter. Finally, United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.