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

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $147.0667.

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 29th. Morgan Stanley upped their target price on shares of 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. Finally, Mizuho began coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $136.20 on Friday. 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 Hartford Insurance Group has a 12-month low of $104.93 and a 12-month high of $140.50. The firm has a fifty day moving average of $134.88 and a 200-day moving average of $130.39. The firm has a market capitalization of $37.95 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

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

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the 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 directly owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of The Hartford Insurance Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after acquiring an additional 156,807 shares during the last quarter. State Street Corp grew its position in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after acquiring an additional 55,983 shares during the last quarter. Geode Capital Management LLC increased its holdings in The Hartford Insurance Group by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock worth $943,448,000 after purchasing an additional 57,539 shares in the last quarter. Invesco Ltd. raised its position in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in The Hartford Insurance Group by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock valued at $606,956,000 after purchasing an additional 81,712 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

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.