The Hartford Insurance Group, Inc. (NYSE:HIG) Receives $140.07 Consensus PT from Brokerages

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $139.5714.

Several brokerages recently commented on HIG. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective for the company. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company.

The Hartford Insurance Group Stock Up 0.7%

HIG stock opened at $124.35 on Tuesday. The Hartford Insurance Group has a 1-year low of $104.93 and a 1-year high of $135.17. The business has a fifty day moving average price of $130.01 and a 200-day moving average price of $127.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The stock has a market capitalization of $34.65 billion, a P/E ratio of 10.16, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the business earned $2.53 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that The Hartford Insurance Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group 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 sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 45,305 shares of company stock valued at $5,608,647. Company insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

Hedge funds have recently bought and sold shares of the stock. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group during the third quarter valued at about $27,000. Private Wealth Management Group LLC boosted its stake 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 worth $28,000 after acquiring an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC boosted its stake in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 99 shares during the period. Park Square Financial Group LLC boosted its stake in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group in the second quarter worth about $35,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.