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

The Hartford Insurance Group (NYSE:HIG) announced its quarterly earnings data on Thursday. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26, FiscalAI reports. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion.

The Hartford Insurance Group Trading Up 1.0%

Shares of NYSE:HIG traded up $1.34 during trading on Thursday, reaching $142.18. 1,656,316 shares of the company were exchanged, compared to its average volume of 1,628,213. The business’s fifty day simple moving average is $133.54 and its 200-day simple moving average is $135.44. The firm has a market capitalization of $38.98 billion, a PE ratio of 9.99, a P/E/G ratio of 3.87 and a beta of 0.47. The Hartford Insurance Group has a 12-month low of $120.33 and a 12-month high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HIG. Mizuho raised their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Piper Sandler restated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Finally, Bank of America raised their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus price target of $148.75.

Insiders Place Their Bets

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Haven Private LLC grew its position in The Hartford Insurance Group by 1.1% during the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after buying an additional 71 shares during the period. GW&K Investment Management LLC raised its holdings in The Hartford Insurance Group by 40.3% during 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. Kestra Advisory Services LLC raised its holdings in The Hartford Insurance Group by 0.4% during the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after purchasing an additional 79 shares during the last quarter. Larson Financial Group LLC boosted its position in The Hartford Insurance Group by 16.4% during the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 87 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in The Hartford Insurance Group by 6.8% in the fourth quarter. Great Valley Advisor Group Inc. now owns 1,659 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 106 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

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.