The Hartford Insurance Group, Inc. (NYSE:HIG) Receives $147.07 Average PT from Analysts

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $148.4667.

Several analysts have recently issued reports on the company. UBS Group increased their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Monday, December 29th. Argus upped their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Finally, Morgan Stanley boosted their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th.

The Hartford Insurance Group Trading Down 0.9%

HIG stock opened at $130.78 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The company’s 50-day simple moving average is $135.30 and its 200 day simple moving average is $130.56. The Hartford Insurance Group has a 52 week low of $105.98 and a 52 week high of $140.50. The company has a market capitalization of $36.44 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61.

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, beating analysts’ consensus estimates of $3.02 by $0.76. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.53 EPS. As a group, sell-side analysts anticipate that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were issued a dividend of $0.60 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is presently 19.61%.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in The Hartford Insurance Group during the first quarter worth approximately $207,000. Belpointe Asset Management LLC lifted its stake in shares of The Hartford Insurance Group by 9.9% in the first quarter. Belpointe Asset Management LLC now owns 5,771 shares of the insurance provider’s stock worth $714,000 after buying an additional 520 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of The Hartford Insurance Group by 7.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,001 shares of the insurance provider’s stock worth $743,000 after buying an additional 441 shares during the period. Advisors Capital Management LLC grew its stake in The Hartford Insurance Group by 1.9% in the 1st quarter. Advisors Capital Management LLC now owns 7,474 shares of the insurance provider’s stock valued at $925,000 after buying an additional 141 shares during the last quarter. Finally, Intrua Financial LLC bought a new position in The Hartford Insurance Group in the 1st quarter worth $214,000. Institutional investors 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.