The Hartford Insurance Group (NYSE:HIG) Reaches New 1-Year High – Should You Buy?

The Hartford Insurance Group, Inc. (NYSE:HIG)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $138.70 and last traded at $138.4210, with a volume of 2244035 shares traded. The stock had previously closed at $135.30.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HIG shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 8th. Morgan Stanley raised 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. Argus boosted their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price target on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.50.

The Hartford Insurance Group Price Performance

The firm has a market cap of $38.57 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.26 and a beta of 0.63. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $130.33 and a 200 day moving average price of $128.84.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating 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 $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the business posted $2.53 EPS. The Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Activity

In related news, 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 value of $959,816.81. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of institutional investors have recently made changes to their positions in HIG. Vanguard Group Inc. boosted its stake in shares of The Hartford Insurance Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after acquiring an additional 156,807 shares during the last quarter. State Street Corp lifted its holdings in The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares in the last quarter. Geode Capital Management LLC lifted its holdings in The Hartford Insurance Group by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock valued at $943,448,000 after purchasing an additional 57,539 shares in the last quarter. Invesco Ltd. boosted its stake in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of The Hartford Insurance Group by 5.3% during the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock worth $570,328,000 after buying an additional 215,941 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

About The Hartford Insurance Group

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.