The Hartford Insurance Group (NYSE:HIG) Stock Gets Price Target Reduction from Cantor Fitzgerald

The Hartford Insurance Group (NYSE:HIG) had its price target trimmed by Cantor Fitzgerald from $145.00 to $136.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other equities research analysts also recently issued reports on the company. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. increased their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley decreased their price target on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Finally, Truist Financial began 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 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, The Hartford Insurance Group has an average rating of “Hold” and a consensus price target of $144.69.

The Hartford Insurance Group Stock Up 2.3%

Shares of NYSE HIG opened at $138.07 on Monday. The Hartford Insurance Group has a 1 year low of $120.42 and a 1 year high of $146.07. The firm has a market cap of $36.92 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 0.28. The stock’s 50-day simple moving average is $132.87 and its 200-day simple moving average is $135.43.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.17 by $0.33. The business had revenue of $7.22 billion for the quarter, compared to analysts’ expectations of $7.37 billion. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.78 earnings per share. As a group, equities analysts anticipate that The Hartford Insurance Group will post 13.31 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 1st will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is currently 14.53%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Costello sold 31,597 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $135.75, for a total value of $4,289,292.75. Following the completion of the sale, the chief financial officer directly owned 82,988 shares in the company, valued at $11,265,621. This represents a 27.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MidFirst Bank acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in shares of The Hartford Insurance Group in the second quarter worth $27,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group in the first quarter worth $29,000. Polaris Financial Partners acquired a new stake in shares of The Hartford Insurance Group in the third quarter worth $27,000. Finally, Clearstead Trust LLC bought a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.