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

The Hartford Insurance Group (NYSE:HIG) announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $7.37 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.

The Hartford Insurance Group Stock Down 0.6%

NYSE HIG traded down $0.78 on Monday, reaching $135.98. The company had a trading volume of 1,547,268 shares, compared to its average volume of 1,614,407. The firm has a market capitalization of $36.83 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 2.23 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 1-year low of $120.33 and a 1-year high of $146.07. The company’s fifty day moving average is $133.45 and its 200-day moving average is $135.01.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HIG. UBS Group dropped their target price 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, October 6th. Keefe, Bruyette & Woods reduced their price target on The Hartford Insurance Group from $144.00 to $137.00 and set a “market perform” rating on the stock in a research report on Monday, October 12th. Truist Financial started coverage on shares of The Hartford Insurance Group in a research note on Monday, October 12th. They issued a “hold” rating and a $137.00 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Finally, Morgan Stanley lowered their target price on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.