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

The Hartford Insurance Group, Inc. (NYSE:HIG) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $144.60.

A number of research firms have recently commented on HIG. Piper Sandler increased their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Evercore ISI increased their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target for the company.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $139.05 on Wednesday. The business has a 50-day moving average of $131.02 and a two-hundred day moving average of $129.15. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $139.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $38.75 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.30 and a beta of 0.63.

The Hartford Insurance Group (NYSE:HIG) last posted 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 for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm posted $2.53 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. 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 Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC grew its position in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth about $26,000. Princeton Global Asset Management LLC bought a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $27,000. Private Wealth Management Group LLC increased its position in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares during the last quarter. Finally, United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $29,000. 93.42% of the stock is owned by institutional investors.

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.