The Hartford Insurance Group, Inc. (NYSE:HIG) Stock Has Average Target Price of $144.69 According to Brokerages

The Hartford Insurance Group, Inc. (NYSE:HIG) has received a consensus rating of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $144.69.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Mizuho dropped their price objective on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Cantor Fitzgerald reduced their target price on shares of The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating for the company in a research note on Monday, November 2nd. Truist Financial began coverage on shares of The Hartford Insurance Group in a research report on Monday, October 12th. They issued a “hold” rating and a $137.00 target price for the company. Finally, Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $134.88 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $132.66 and its two-hundred day moving average price is $135.52. The Hartford Insurance Group has a 52-week low of $120.42 and a 52-week high of $146.07. The stock has a market capitalization of $36.07 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.94 and a beta of 0.48.

The Hartford Insurance Group (NYSE:HIG) last announced 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 business had revenue of $7.22 billion for the quarter, compared to analysts’ expectations of $7.37 billion. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.78 EPS. As a group, sell-side analysts forecast that The Hartford Insurance Group will post 13.34 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio is 14.53%.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Costello sold 31,597 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $135.75, for a total value of $4,289,292.75. Following the completion of the transaction, the chief financial officer directly owned 82,988 shares in the company, valued at $11,265,621. This trade represents a 27.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in shares of The Hartford Insurance Group by 12.7% in the third quarter. Intech Investment Management LLC now owns 54,431 shares of the insurance provider’s stock valued at $6,660,000 after buying an additional 6,127 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of The Hartford Insurance Group by 13.8% during the 3rd quarter. Bessemer Group Inc. now owns 8,920 shares of the insurance provider’s stock worth $1,092,000 after acquiring an additional 1,079 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth $231,000. Optas LLC grew its holdings in shares of The Hartford Insurance Group by 35.8% in the 3rd quarter. Optas LLC now owns 2,184 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 576 shares during the last quarter. Finally, Danske Bank A S grew its holdings in shares of The Hartford Insurance Group by 9.3% in the 3rd quarter. Danske Bank A S now owns 386,543 shares of the insurance provider’s stock worth $47,297,000 after acquiring an additional 32,985 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals.

Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.

The Hartford serves customers primarily in the United States, with select international operations.