DOWLING & PARTN Brokers Decrease Earnings Estimates for HIG

Key Points

• DOWLING & PARTN lowered its FY2027 earnings estimate for The Hartford Insurance Group to $13.50 per share from $14.25, though that still sits above the current consensus estimate of $12.98.
• The company recently missed quarterly earnings expectations, reporting $3.09 per share versus the $3.39 consensus, while revenue of $7.23 billion also came in below forecasts.
• Analysts remain mixed but generally constructive, with 9 Buy and 9 Hold ratings and a consensus target price of $147.31, while the stock recently traded at $131.26.

The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) - DOWLING & PARTN dropped their FY2027 earnings estimates for shares of The Hartford Insurance Group in a report released on Thursday, June 18th. DOWLING & PARTN analyst D. Lukpanov now anticipates that the insurance provider will post earnings of $13.50 per share for the year, down from their previous estimate of $14.25. The consensus estimate for The Hartford Insurance Group's current full-year earnings is $12.98 per share.

HIG has been the topic of a number of other reports. Bank of America raised their price target on 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. Weiss Ratings downgraded shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Piper Sandler cut their price target on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday, June 11th. Wells Fargo & Company decreased their price target on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating on the stock in a report on Friday, June 5th. Finally, Mizuho dropped their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating for the company in a report on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $147.31.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $131.26 on Wednesday. The firm has a market capitalization of $35.98 billion, a P/E ratio of 9.22, a PEG ratio of 2.36 and a beta of 0.47. The stock has a fifty day moving average price of $133.27 and a 200 day moving average price of $135.34. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The company's revenue was up 6.1% on a year-over-year basis.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 16.87%.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares in the last quarter. State Street Corp grew its position in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock valued at $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Geode Capital Management LLC grew its position in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock valued at $1,091,440,000 after acquiring an additional 34,274 shares in the last quarter. Invesco Ltd. raised its stake in shares of The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after purchasing an additional 496,821 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of The Hartford Insurance Group by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider's stock worth $635,490,000 after purchasing an additional 72,448 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

About The Hartford Insurance Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.