The Hartford Insurance Group (NYSE:HIG) Upgraded by Royal Bank Of Canada to “Hold” Rating

Royal Bank Of Canada upgraded shares of The Hartford Insurance Group (NYSE:HIG) to a hold rating in a research report released on Monday,Zacks.com reports.

Several other research analysts have also weighed in on HIG. Citigroup began coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. Evercore ISI lifted their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Tuesday. Morgan Stanley raised their price target on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Finally, UBS Group lifted their price target on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $137.52 on Monday. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $130.06 and its 200-day moving average price is $128.51. The Hartford Insurance Group has a twelve month low of $104.93 and a twelve month high of $138.64. The company has a market cap of $38.32 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) 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 company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the business earned $2.53 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is 19.61%.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction on 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 $2,252,344. This trade represents a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of HIG. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the third quarter worth about $26,000. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its holdings in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the period. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Finally, United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the third quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.