The Hartford Insurance Group (NYSE:HIG) Announces Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Key Points

• The Hartford reported quarterly EPS of $3.50, beating analyst expectations of $3.17 by $0.33. Revenue totaled $7.22 billion, below the $7.37 billion consensus estimate.
• The company posted a 21.66% return on equity and a 15.00% net margin, while shares traded at $135.98, down $0.78 for the day.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $145.25; recent target changes ranged from $137 to $158.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) announced its quarterly earnings results on Monday. The insurance provider reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates of $3.17 by $0.33, FiscalAI reports. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The firm had revenue of $7.22 billion for the quarter, compared to analysts' expectations of $7.37 billion.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded down $0.78 during trading on Monday, reaching $135.98. The company's stock had a trading volume of 1,547,268 shares, compared to its average volume of 1,614,407. The stock has a 50-day moving average price of $133.45 and a two-hundred day moving average price of $135.01. The stock has a market capitalization of $36.83 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 2.23 and a beta of 0.49. 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 has a one year low of $120.33 and a one year high of $146.07.

Analyst Ratings Changes

HIG has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on The Hartford Insurance Group from $164.00 to $158.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Truist Financial assumed coverage on shares of The Hartford Insurance Group in a report on Monday, October 12th. They issued a "hold" rating and a $137.00 target price on the stock. Royal Bank Of Canada increased their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Cantor Fitzgerald lifted their price target on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, October 7th. Finally, UBS Group cut their price target on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a "buy" rating for the company in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $145.25.

About The Hartford Insurance Group

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

The Hartford's commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers' compensation, property, general liability, and specialty insurance.

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