The Hartford Insurance Group (NYSE:HIG) Releases Earnings Results

The Hartford Insurance Group (NYSE:HIG) issued its earnings results on Thursday. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.08 by $0.98, FiscalAI reports. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.

The Hartford Insurance Group Stock Up 1.3%

Shares of The Hartford Insurance Group stock traded up $1.68 on Thursday, reaching $132.35. The company’s stock had a trading volume of 1,509,873 shares, compared to its average volume of 1,424,689. The firm’s fifty day simple moving average is $134.88 and its two-hundred day simple moving average is $131.00. The company has a market capitalization of $36.88 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.05 and a beta of 0.61. The Hartford Insurance Group has a 52 week low of $105.98 and a 52 week 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.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Insurance Group

Several hedge funds have recently bought and sold shares of HIG. Balyasny Asset Management L.P. lifted its stake in shares of The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after acquiring an additional 633,592 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in The Hartford Insurance Group by 208.2% in the third quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock worth $106,708,000 after purchasing an additional 540,445 shares during the period. Invesco Ltd. lifted its position in shares of The Hartford Insurance Group by 10.3% during the third 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. Man Group plc grew its holdings in shares of The Hartford Insurance Group by 36.6% in the second quarter. Man Group plc now owns 1,064,849 shares of the insurance provider’s stock worth $135,097,000 after purchasing an additional 285,596 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in The Hartford Insurance Group by 7.5% in the 2nd quarter. Bank of America Corp DE now owns 3,281,825 shares of the insurance provider’s stock worth $416,365,000 after buying an additional 228,780 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of a number of recent analyst reports. Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target on the stock. Evercore ISI increased their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a report on Wednesday, January 7th. 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 research report on Monday, November 17th. Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.47.

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.