The Hartford Insurance Group (NYSE:HIG) Sets New 52-Week High – Time to Buy?

The Hartford Insurance Group, Inc. (NYSE:HIG)’s stock price hit a new 52-week high on Friday . The company traded as high as $136.20 and last traded at $135.0840, with a volume of 90771 shares traded. The stock had previously closed at $134.77.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HIG. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Wednesday. Piper Sandler boosted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Morgan Stanley upped their target price on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Wolfe Research began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI boosted their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

The Hartford Insurance Group Trading Up 1.2%

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The company has a market capitalization of $37.99 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The firm has a fifty day moving average price of $129.66 and a 200-day moving average price of $128.32.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $2.53 earnings per share. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

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

The Hartford Insurance Group Company Profile

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.