Royal Bank Of Canada Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

The Hartford Insurance Group (NYSE:HIG) had its price target increased by Royal Bank Of Canada from $145.00 to $150.00 in a research report released on Monday,Benzinga reports. They currently have a sector perform rating on the insurance provider’s stock.

A number of other brokerages have also recently commented on HIG. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Bank of America boosted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday. Finally, UBS Group lowered their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $149.00.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $140.06 on Monday. The company’s 50 day simple moving average is $133.90 and its 200-day simple moving average is $135.52. The firm has a market cap of $37.94 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 3.83 and a beta of 0.47. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts predict that The Hartford Insurance Group will post 12.69 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

Insider Buying and Selling

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

Hedge Funds Weigh In On The Hartford Insurance Group

A number of large investors have recently modified their holdings of the business. First Pacific Financial acquired a new position in The Hartford Insurance Group during the first quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at $26,000. Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $29,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth $29,000. Finally, Sound Income Strategies LLC grew its stake in shares of The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 87 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.