The Hartford Insurance Group (NYSE:HIG) Stock Gets Price Target Trim from Mizuho

The Hartford Insurance Group (NYSE:HIG) had its price target decreased by Mizuho from $154.00 to $144.00 in a research note released on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the insurance provider’s stock.

Other analysts also recently issued research reports about the company. UBS Group reduced their price objective on The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods upped their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Barclays cut their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Cantor Fitzgerald lifted their price target on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $146.67.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $128.97 on Wednesday. The firm’s 50-day moving average is $134.76 and its 200-day moving average is $135.06. The company has a market cap of $34.93 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.14 and a beta of 0.49. 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 has a 52-week low of $120.33 and a 52-week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company earned $3.41 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that The Hartford Insurance Group will post 12.81 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of HIG. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter worth approximately $26,000. MidFirst Bank bought a new position in The Hartford Insurance Group in the second quarter valued at approximately $26,000. Navigoe LLC bought a new position in The Hartford Insurance Group in the second quarter valued at approximately $27,000. Phillip James Consulting Co. acquired a new stake in The Hartford Insurance Group during the 1st quarter worth $29,000. Finally, Polaris Financial Partners acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth $27,000. 93.42% of the stock is owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.