The Hartford Insurance Group, Inc. (NYSE:HIG) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts’ consensus rating is Hold: Of 18 firms covering Hartford, 12 rate it Hold, five Buy, and one Strong Buy; the average 12-month price target is $144.69.
• Quarterly earnings beat expectations: Hartford reported EPS of $3.50, above the $3.17 consensus, while revenue of $7.22 billion fell short of the $7.37 billion estimate.
• The company raised its dividend: The quarterly payout increased from $0.60 to $0.67 per share, equivalent to $2.68 annually and a yield of about 2.0%.

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $144.69.

Several equities research analysts have recently commented on HIG shares. Wells Fargo & Company decreased their target price on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an "overweight" rating for the company in a research report on Monday, October 12th. Zacks Research upgraded The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. UBS Group lowered their target price on The Hartford Insurance Group from $155.00 to $149.00 and set a "buy" rating on the stock in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods reduced their target price on The Hartford Insurance Group from $144.00 to $137.00 and set a "market perform" rating for the company in a research note on Monday, October 12th. Finally, Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $134.13 on Friday. The Hartford Insurance Group has a 52-week low of $120.42 and a 52-week high of $146.07. The company's 50 day moving average is $132.74 and its two-hundred day moving average is $135.49. The firm has a market cap of $35.87 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.17 by $0.33. The firm 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 Hartford Insurance Group's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.78 earnings per share. On average, research analysts expect that The Hartford Insurance Group will post 13.34 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be given a $0.67 dividend. The ex-dividend date is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group's previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 14.53%.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Costello sold 31,597 shares of the business'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 transaction 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 approximately $11,265,621. The trade was a 27.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in The Hartford Insurance Group during the second quarter valued at approximately $4,067,052,000. Bank of America Corp DE acquired a new position in shares of The Hartford Insurance Group in the second quarter worth about $350,777,000. Legal & General Group Plc bought a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $346,877,000. Bank of New York Mellon Corp bought a new position in The Hartford Insurance Group in the 2nd quarter valued at $337,907,000. Finally, Deutsche Bank AG acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at $145,575,000. 93.42% of the stock is owned by institutional investors.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals.

Its commercial insurance offerings include coverage such as workers' compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.

The Hartford serves customers primarily in the United States, with select international operations.

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