The Hartford Insurance Group’s (HIG) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of The Hartford Insurance Group (NYSE:HIG) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $146.00 price objective on the insurance provider’s stock, down from their previous price objective of $148.00.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald lifted their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Barclays dropped their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Bank of America raised their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $148.38.

The Hartford Insurance Group Trading Up 2.6%

NYSE:HIG opened at $140.26 on Wednesday. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $144.50. The firm has a market cap of $38.45 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 3.71 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $133.04 and a 200 day moving average price of $135.40.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS. Sell-side analysts anticipate that The Hartford Insurance Group will post 12.74 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Insiders Place Their Bets

In other news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of HIG. Wedge Capital Management L L P NC lifted its position in The Hartford Insurance Group by 9.9% in the second quarter. Wedge Capital Management L L P NC now owns 259,897 shares of the insurance provider’s stock valued at $34,442,000 after acquiring an additional 23,441 shares during the last quarter. Tema ETFs LLC grew its holdings in shares of The Hartford Insurance Group by 29.1% during the second quarter. Tema ETFs LLC now owns 5,733 shares of the insurance provider’s stock worth $760,000 after purchasing an additional 1,293 shares during the last quarter. E. Ohman J or Asset Management AB increased its position in shares of The Hartford Insurance Group by 41.8% during the second quarter. E. Ohman J or Asset Management AB now owns 13,401 shares of the insurance provider’s stock worth $1,776,000 after purchasing an additional 3,950 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of The Hartford Insurance Group by 15.8% during the second quarter. Valeo Financial Advisors LLC now owns 2,006 shares of the insurance provider’s stock worth $266,000 after purchasing an additional 273 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of The Hartford Insurance Group by 2.7% in the 2nd quarter. Czech National Bank now owns 78,028 shares of the insurance provider’s stock valued at $10,340,000 after purchasing an additional 2,071 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.