The Hartford Insurance Group, Inc. (NYSE:HIG) Receives $140.07 Consensus Target Price from Analysts

The Hartford Insurance Group, Inc. (NYSE:HIG) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $140.1429.

Several research firms recently weighed in on HIG. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Saturday, October 25th. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Piper Sandler lifted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Evercore ISI lifted their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Finally, Barclays reduced their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th.

The Hartford Insurance Group Price Performance

NYSE HIG traded up $1.92 on Tuesday, reaching $126.19. 144,205 shares of the stock traded hands, compared to its average volume of 1,601,235. The firm’s fifty day simple moving average is $129.84 and its 200 day simple moving average is $127.32. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group has a 12 month low of $104.93 and a 12 month high of $135.17.

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 firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 earnings per share. As a group, research analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.9%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HIG. Oppenheimer Asset Management Inc. bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at $586,000. Oppenheimer & Co. Inc. raised its position in shares of The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock valued at $533,000 after acquiring an additional 2,000 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of The Hartford Insurance Group by 167.8% during the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 198 shares during the last quarter. Transcend Capital Advisors LLC bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at $213,000. Finally, Monument Capital Management raised its position in shares of The Hartford Insurance Group by 4.4% during the 1st quarter. Monument Capital Management now owns 23,201 shares of the insurance provider’s stock valued at $2,871,000 after acquiring an additional 972 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.