The Hartford Insurance Group (NYSE:HIG) Reaches New 52-Week High Following Analyst Upgrade

The Hartford Insurance Group, Inc. (NYSE:HIG) reached a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $152.00 to $161.00. Piper Sandler currently has an overweight rating on the stock. The Hartford Insurance Group traded as high as $139.93 and last traded at $139.85, with a volume of 167926 shares changing hands. The stock had previously closed at $139.01.

Several other equities research analysts have also recently issued reports on the company. Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 15th. 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 note on Wednesday, October 1st. Finally, Morgan Stanley upped their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds have recently made changes to their positions in HIG. AIA Group Ltd grew its position in The Hartford Insurance Group by 68.8% during the third quarter. AIA Group Ltd now owns 3,322 shares of the insurance provider’s stock valued at $443,000 after purchasing an additional 1,354 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of The Hartford Insurance Group in the third quarter worth about $298,000. Allworth Financial LP lifted its holdings in shares of The Hartford Insurance Group by 1.2% during the third quarter. Allworth Financial LP now owns 9,549 shares of the insurance provider’s stock worth $1,274,000 after buying an additional 109 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in The Hartford Insurance Group by 31.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 127,664 shares of the insurance provider’s stock valued at $17,029,000 after purchasing an additional 30,868 shares during the period. Finally, Cambria Investment Management L.P. grew its position in The Hartford Insurance Group by 22.8% during the third quarter. Cambria Investment Management L.P. now owns 5,611 shares of the insurance provider’s stock worth $748,000 after buying an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

The company has a market cap of $38.90 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.30 and a beta of 0.63. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $131.23 and a two-hundred day moving average price of $129.23.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate 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 revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $2.53 EPS. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a $0.60 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.