The Hartford Insurance Group (NYSE:HIG) Posts Quarterly Earnings Results

The Hartford Insurance Group (NYSE:HIG) released its quarterly earnings results on Monday. The insurance provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.17 by $0.33, FiscalAI reports. The firm had revenue of $7.22 billion during the quarter, compared to analyst estimates of $7.37 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.78 EPS.

The Hartford Insurance Group Trading Down 0.6%

Shares of HIG opened at $135.98 on Tuesday. The Hartford Insurance Group has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The firm has a market cap of $36.83 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 2.23 and a beta of 0.49. The firm has a 50 day moving average price of $133.45 and a 200-day moving average price of $135.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HIG. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Mizuho reduced their target price on The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Piper Sandler restated a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Royal Bank Of Canada lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Finally, Morgan Stanley cut their price objective on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $145.25.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.