The Hartford Insurance Group, Inc. (NYSE:HIG) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• The Hartford Insurance Group has an average analyst rating of “Moderate Buy” from 18 brokerages, with an average 12-month price target of about $148.19.
• Recent analyst moves were mixed, with several firms trimming targets: Keefe, Bruyette & Woods cut its objective to $142, while Wells Fargo, Cantor Fitzgerald, and Mizuho also lowered their price targets but kept positive or neutral ratings.
• The company reported Q1 earnings of $3.09 per share, missing estimates, though revenue still rose 6.1% year over year; Hartford also declared a quarterly dividend of $0.60 per share, equal to a 1.9% yield.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $148.1875.

HIG has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating for the company in a research note on Thursday, June 4th. Bank of America increased their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Wells Fargo & Company lowered their target price on 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. Cantor Fitzgerald lowered their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, Mizuho lowered their target price on The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating on the stock in a report on Friday, June 5th.

Insider Buying and Selling

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

Institutional Investors Weigh In On The Hartford Insurance Group

A number of large investors have recently bought and sold shares of the stock. First Pacific Financial acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $26,000. United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $29,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $29,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $128.92 on Wednesday. The Hartford Insurance Group has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a market capitalization of $35.34 billion, a P/E ratio of 9.06, a PEG ratio of 2.30 and a beta of 0.47. The business has a 50 day moving average price of $134.68 and a 200 day moving average price of $135.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $7.23 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group will post 13.12 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio is 16.87%.

The Hartford Insurance Group Company Profile

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.

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