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

Key Points

• The Hartford Insurance Group has a consensus analyst rating of “Moderate Buy” from 18 brokerage firms, with an average 1-year price target of about $149.31.
• The company recently reported quarterly earnings of $3.09 per share, missing estimates, even though revenue rose 6.1% year over year to $14.45 billion.
• The Hartford also paid a $0.60 quarterly dividend, equal to an annualized yield of about 1.8%, while institutional ownership remains high at 93.42%.

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eighteen research firms that are presently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $149.3125.

HIG has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Mizuho lifted their target price on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a "buy (a-)" rating on shares of The Hartford Insurance Group in a research report on Wednesday. Citigroup lifted their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. Finally, Roth Mkm lifted their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, January 30th.

The Hartford Insurance Group Stock Down 0.2%

The Hartford Insurance Group stock opened at $134.02 on Friday. The Hartford Insurance Group has a twelve month low of $119.61 and a twelve month high of $144.50. The firm has a 50 day moving average price of $135.86 and a 200-day moving average price of $135.41. The company has a market capitalization of $36.74 billion, a P/E ratio of 9.42, a P/E/G ratio of 2.41 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The business had revenue of $14.45 billion for the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group will post 13.17 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group's payout ratio is currently 16.87%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $207,000. NewEdge Advisors LLC increased its holdings in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock valued at $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after acquiring an additional 6,285 shares during the period. HUB Investment Partners LLC grew its stake in The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock valued at $878,000 after acquiring an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after purchasing an additional 39,220 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

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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