The Hartford Insurance Group, Inc. (NYSE:HIG) Receives $147.07 Consensus PT from Brokerages

The Hartford Insurance Group, Inc. (NYSE:HIG) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $148.4667.

Several analysts recently commented on the stock. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 29th. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Cantor Fitzgerald boosted their target price on The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Argus upped 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.

The Hartford Insurance Group Stock Down 1.0%

Shares of The Hartford Insurance Group stock traded down $1.33 during midday trading on Friday, hitting $129.49. The company’s stock had a trading volume of 1,589,738 shares, compared to its average volume of 1,199,947. The Hartford Insurance Group has a 1-year low of $105.98 and a 1-year high of $140.50. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $36.08 billion, a P/E ratio of 10.58, a PEG ratio of 1.17 and a beta of 0.61. The stock has a 50-day simple moving average of $135.31 and a 200-day simple moving average of $130.61.

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, 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 for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date was 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 news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the company’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 represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the third quarter valued at approximately $26,000. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth $27,000. Cornerstone Planning Group LLC grew its stake in 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 valued at $26,000 after buying an additional 184 shares during the last quarter. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter worth $29,000. Finally, United Financial Planning Group LLC bought a new position in The Hartford Insurance Group in the 3rd quarter worth $29,000. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.