The Hartford Insurance Group, Inc. (NYSE:HIG) Given Average Recommendation of “Moderate Buy” by Brokerages

The Hartford Insurance Group, Inc. (NYSE:HIG) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $147.25.

Several equities analysts recently weighed in on the stock. Roth Mkm increased their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Citigroup increased their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Evercore raised their price target on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. The trade was a 50.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 384,621 shares of company stock worth $53,010,925. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds have recently bought and sold shares of HIG. 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 valued at $26,000 after buying an additional 184 shares during the period. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth $26,000. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group during the third quarter worth about $27,000. United Financial Planning Group LLC bought a new position in The Hartford Insurance Group during the third quarter worth about $29,000. Finally, Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the third quarter valued at about $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $135.32 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a 1-year low of $107.49 and a 1-year high of $144.50. The stock has a market capitalization of $37.33 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.30 and a beta of 0.60. The business has a 50-day moving average price of $137.13 and a two-hundred day moving average price of $134.03.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the firm earned $2.94 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 17.99%.

About The Hartford Insurance Group

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.