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

The Hartford Insurance Group, Inc. (NYSE:HIG)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $135.27 and last traded at $133.8190, with a volume of 274282 shares changing hands. The stock had previously closed at $133.68.

Analyst Ratings Changes

Several research analysts have commented on HIG shares. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price target on the stock. Keefe, Bruyette & Woods boosted 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. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, November 7th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Citigroup began coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

The Hartford Insurance Group Price Performance

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 firm has a market capitalization of $37.35 billion, a P/E ratio of 10.95, a PEG ratio of 1.19 and a beta of 0.69. The company’s 50 day moving average price is $129.42 and its 200 day moving average price is $127.87.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The Hartford Insurance Group’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 EPS. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently declared 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 represents a $2.40 annualized dividend and a dividend yield of 1.8%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s payout ratio is currently 19.61%.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by company insiders.

Institutional Trading of The Hartford Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Atlas Capital Advisors Inc. lifted its position in shares of The Hartford Insurance Group by 95.1% during the 1st quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after acquiring an additional 3,140 shares during the period. Burns Matteson Capital Management LLC acquired a new position in The Hartford Insurance Group in the first quarter valued at about $506,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in The Hartford Insurance Group by 93.1% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,614 shares of the insurance provider’s stock worth $695,000 after purchasing an additional 2,707 shares during the period. Milestone Asset Management Group LLC acquired a new stake in The Hartford Insurance Group during the first quarter worth about $390,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in The Hartford Insurance Group by 61.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock valued at $15,727,000 after buying an additional 47,919 shares during the period. 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.