The Hartford Insurance Group (NYSE:HIG) Announces Earnings Results

The Hartford Insurance Group (NYSE:HIG) posted its quarterly earnings results on Thursday. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30), FiscalAI reports. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock traded down $2.31 during trading on Friday, reaching $137.30. The company had a trading volume of 193,213 shares, compared to its average volume of 1,509,640. The firm’s 50-day simple moving average is $137.79 and its 200 day simple moving average is $134.73. The Hartford Insurance Group has a 1-year low of $116.66 and a 1-year high of $144.50. The firm has a market capitalization of $37.88 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 17.99%.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the transaction, the chief executive officer owned 194,817 shares in the company, valued at $27,426,337.26. The trade was a 34.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 349,282 shares of company stock worth $48,184,324 in the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of HIG. Balyasny Asset Management L.P. raised its holdings in The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after buying an additional 633,592 shares during the period. Zurich Insurance Group Ltd FI grew its position in shares of The Hartford Insurance Group by 208.2% during the third quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock worth $106,708,000 after buying an additional 540,445 shares in the last quarter. Invesco Ltd. grew its position in shares of The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after buying an additional 496,821 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of The Hartford Insurance Group by 570.5% during the fourth quarter. NewEdge Advisors LLC now owns 385,088 shares of the insurance provider’s stock worth $53,065,000 after buying an additional 327,659 shares in the last quarter. Finally, Man Group plc boosted its holdings in The Hartford Insurance Group by 36.6% in the second quarter. Man Group plc now owns 1,064,849 shares of the insurance provider’s stock valued at $135,097,000 after purchasing an additional 285,596 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Bank of America raised their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Barclays reduced their price target on shares of The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.56.

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.