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

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $148.1250.

Several research firms have commented on HIG. Wells Fargo & Company upped their target price on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised their target price on The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Royal Bank Of Canada began coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price on the stock. Argus increased their price target on 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. Finally, Roth Mkm raised their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $140.69 on Monday. The Hartford Insurance Group has a 12 month low of $107.49 and a 12 month high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a fifty day moving average price of $137.11 and a 200 day moving average price of $133.47. The company has a market cap of $38.81 billion, a P/E ratio of 10.55, a PEG ratio of 1.37 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the company posted $2.94 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is 17.99%.

Insider Activity

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the company’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 $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 5,681 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total value of $805,736.23. Following the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 343,928 shares of company stock worth $47,393,256 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

Institutional investors have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its holdings in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the third quarter worth approximately $29,000. Finally, United Financial Planning Group LLC bought a new position in shares of The Hartford Insurance Group in the third quarter valued at $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, 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.