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

Key Points

• Analyst consensus is “Hold”: Twelve of 18 analysts rate The Hartford Insurance Group neutral, while five recommend buying and one gives a strong-buy rating. The average 12-month price target is $145.25, above the reported $130.08 share price.
• Institutional ownership remains high: Hedge funds and other institutional investors own 93.42% of HIG, with several firms increasing their positions during the third quarter.
• Recent financial results exceeded expectations: The company reported quarterly earnings of $3.42 per share versus the $3.16 consensus estimate, while revenue rose 8.1% year over year to $7.26 billion. Hartford also pays a quarterly dividend of $0.60, representing a 1.8% annualized yield.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) has received an average recommendation of "Hold" from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $145.25.

A number of equities research analysts recently issued reports on the stock. Zacks Research raised shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Cantor Fitzgerald lifted their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Truist Financial initiated coverage on shares of The Hartford Insurance Group in a report on Monday. They issued a "hold" rating and a $137.00 target price on the stock. Keefe, Bruyette & Woods decreased their target price on shares of The Hartford Insurance Group from $144.00 to $137.00 and set a "market perform" rating on the stock in a report on Monday. Finally, Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Riversedge Advisors LLC boosted its position in shares of The Hartford Insurance Group by 33.3% during the 3rd quarter. Riversedge Advisors LLC now owns 3,092 shares of the insurance provider's stock worth $378,000 after purchasing an additional 773 shares during the period. Wedmont Private Capital increased its holdings in The Hartford Insurance Group by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 5,320 shares of the insurance provider's stock valued at $689,000 after purchasing an additional 151 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in The Hartford Insurance Group by 4.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 81,626 shares of the insurance provider's stock valued at $9,988,000 after purchasing an additional 3,600 shares during the last quarter. Acropolis Investment Management LLC raised its position in The Hartford Insurance Group by 50.3% in the third quarter. Acropolis Investment Management LLC now owns 2,400 shares of the insurance provider's stock valued at $294,000 after purchasing an additional 803 shares during the period. Finally, GAMMA Investing LLC raised its position in The Hartford Insurance Group by 2.4% in the third quarter. GAMMA Investing LLC now owns 15,817 shares of the insurance provider's stock valued at $1,935,000 after purchasing an additional 373 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $130.08 on Tuesday. The Hartford Insurance Group has a twelve month low of $120.33 and a twelve month high of $146.07. 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 stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 2.13 and a beta of 0.49. The stock has a 50-day moving average of $134.51 and a 200 day moving average of $135.02.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 earnings per share. Sell-side analysts anticipate that The Hartford Insurance Group will post 12.85 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 1st were issued a $0.60 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is currently 15.51%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford's main business includes commercial property and casualty insurance, workers' compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.

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