The Hartford Insurance Group (NYSE:HIG) Releases Quarterly Earnings Results, Misses Expectations By $0.27 EPS

The Hartford Insurance Group (NYSE:HIG) released its earnings results on Thursday. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.27), FiscalAI reports. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion.

The Hartford Insurance Group Stock Up 1.2%

Shares of NYSE:HIG traded up $1.67 during trading on Thursday, hitting $139.78. The stock had a trading volume of 1,296,734 shares, compared to its average volume of 1,526,630. The Hartford Insurance Group has a 12 month low of $116.66 and a 12 month high of $144.50. The company has a market capitalization of $38.56 billion, a PE ratio of 10.48, a PEG ratio of 1.30 and a beta of 0.53. The firm’s fifty day moving average is $137.83 and its 200 day moving average is $134.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 349,282 shares of company stock valued at $48,184,324. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group during the third quarter valued at $26,000. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group in the third quarter worth about $29,000. GW&K Investment Management LLC increased its holdings in shares of The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 77 shares during the last quarter. Wilkerson Advisory Group LLC bought a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $50,000. Finally, DV Equities LLC bought a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $53,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIG has been the topic of several recent research reports. Wells Fargo & Company increased their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Cantor Fitzgerald lowered their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Evercore lifted their price target on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Finally, Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.56.

The Hartford Insurance Group Company Profile

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.