The Hartford Insurance Group, Inc. (HIG) to Issue Quarterly Dividend of $0.67 on January 5th

The Hartford Insurance Group, Inc. (NYSE:HIG) announced a quarterly dividend on Monday, October 26th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.67 per share by the insurance provider on Tuesday, January 5th. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, December 1st. This is a 11.7% increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60.

The Hartford Insurance Group has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. The Hartford Insurance Group has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Analysts expect The Hartford Insurance Group to earn $13.77 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 17.4%.

The Hartford Insurance Group Stock Down 1.6%

Shares of HIG opened at $133.70 on Wednesday. The Hartford Insurance Group has a 52 week low of $120.33 and a 52 week high of $146.07. The stock has a market cap of $36.22 billion, a price-to-earnings ratio of 8.09 and a beta of 0.49. The business has a 50-day simple moving average of $133.35 and a two-hundred day simple moving average of $135.43.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.17 by $0.33. The firm had revenue of $7.22 billion during the quarter, compared to the consensus estimate of $7.37 billion. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.78 earnings per share. On average, equities analysts anticipate that The Hartford Insurance Group will post 12.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

HIG has been the topic of several research analyst reports. Truist Financial started coverage on shares of The Hartford Insurance Group in a report on Monday, October 12th. They issued a “hold” rating and a $137.00 target price on the stock. Cantor Fitzgerald raised their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of 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. UBS Group reduced their price objective on The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Finally, Wells Fargo & Company reduced their price objective on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $145.25.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.