The Hartford Insurance Group, Inc. (NYSE:HIG) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of 17 brokerages covering The Hartford, 11 recommend holding, five recommend buying and one rates it a strong buy. The average 12-month price target is $149.07.
• The company reported quarterly earnings of $3.42 per share, exceeding the $3.16 consensus estimate, while revenue reached $7.26 billion, up 8.1% year over year.
• The Hartford declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 1.8% yield. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) has been assigned a consensus rating of "Hold" from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $149.0667.

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, September 4th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Mizuho lowered shares of The Hartford Insurance Group from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $163.00 to $154.00 in a report on Wednesday. Finally, Barclays cut their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th.

Institutional Trading of The Hartford Insurance Group

A number of institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth about $4,131,000. Strs Ohio raised its stake in The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider's stock valued at $26,994,000 after purchasing an additional 8,890 shares during the period. SEB Asset Management AB purchased a new position in The Hartford Insurance Group in the 1st quarter worth approximately $69,310,000. Arbejdsmarkedets Tillaegspension lifted its holdings in The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider's stock worth $25,303,000 after purchasing an additional 8,250 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $2,286,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Down 1.3%

The Hartford Insurance Group stock opened at $133.20 on Friday. The Hartford Insurance Group has a 12 month low of $120.33 and a 12 month high of $146.07. The company has a market capitalization of $36.08 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 2.37 and a beta of 0.45. The business's fifty day simple moving average is $139.08 and its two-hundred day simple moving average is $136.12. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly 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 firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company's revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $3.41 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group's payout ratio is 15.51%.

About The Hartford Insurance Group

The Hartford Insurance Group, operating 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 primarily to businesses, individuals and organizations in the United States.

The company's business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers' compensation, commercial auto, general liability, property, professional liability and other coverage.

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