The Hartford Insurance Group (NYSE:HIG) Upgraded at Mizuho

Mizuho upgraded shares of The Hartford Insurance Group (NYSE:HIG) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other brokerages have also commented on HIG. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Argus boosted their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Evercore ISI upped their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.60.

The Hartford Insurance Group Trading Up 0.5%

NYSE HIG opened at $138.50 on Monday. The Hartford Insurance Group has a 52 week low of $104.93 and a 52 week high of $139.92. The company has a 50 day moving average price of $130.64 and a 200 day moving average price of $129.02. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $38.59 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.28 and a beta of 0.63.

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

The Hartford Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Institutional Trading of The Hartford Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC purchased a new stake in shares of The Hartford Insurance Group during the third quarter worth approximately $27,000. Cornerstone Planning Group LLC raised its holdings in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 184 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group in the third quarter worth approximately $29,000. Finally, United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors 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.