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

The Hartford Insurance Group (NYSE:HIG) released its quarterly earnings data on Thursday. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26, FiscalAI reports. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the firm posted $3.41 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year.

The Hartford Insurance Group Stock Up 1.0%

The Hartford Insurance Group stock opened at $142.18 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group has a 1-year low of $120.33 and a 1-year high of $144.50. The company has a market cap of $38.98 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 3.84 and a beta of 0.47. The stock’s 50 day moving average price is $133.70 and its 200 day moving average price is $135.47.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Analysts Set New Price Targets

HIG has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Mizuho lifted their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Hold” and an average price target of $148.75.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Institutional investors have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter valued at $26,000. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. GW&K Investment Management LLC grew its stake in shares of The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares in the last quarter. Wilkerson Advisory Group LLC purchased a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at about $50,000. Finally, DV Equities LLC purchased a new position in The Hartford Insurance Group in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.