The Hartford Insurance Group, Inc. (NYSE:HIG) Plans $0.60 Quarterly Dividend

The Hartford Insurance Group, Inc. (NYSE:HIG) declared a quarterly dividend on Wednesday, July 15th. Investors of record on Tuesday, September 1st will be given a dividend of 0.60 per share by the insurance provider on Friday, October 2nd. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st.

The Hartford Insurance Group has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. The Hartford Insurance Group has a dividend payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect The Hartford Insurance Group to earn $13.92 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 17.2%.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $134.48 on Thursday. The stock has a 50-day simple moving average of $132.79 and a two-hundred day simple moving average of $135.38. The Hartford Insurance Group has a 52-week low of $119.61 and a 52-week high of $144.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $36.86 billion, a PE ratio of 9.45, a P/E/G ratio of 3.16 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the business earned $2.20 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that The Hartford Insurance Group will post 12.81 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HIG shares. Mizuho increased their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. UBS Group lowered their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald increased their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Piper Sandler restated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus price target of $148.38.

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.