The Hartford Insurance Group, Inc. (NYSE:HIG) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold”: Of 18 brokerages covering The Hartford, 10 rate it a hold, seven rate it a buy, and one rates it a sell. The average 12-month price target is $149.67, versus a recent share price of $136.30.
• Quarterly results exceeded expectations: The company reported earnings of $3.42 per share, ahead of the $3.16 consensus estimate, while revenue rose 8.1% year over year to $7.26 billion.
• The Hartford declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 1.8% yield. Institutional investors own 93.42% of the company, while an executive’s 10b5-1-plan sale reduced his holdings by 18.88%.

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) have been given an average rating of "Hold" by the eighteen brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $149.6667.

HIG has been the topic of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Cantor Fitzgerald upped their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Barclays dropped their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Finally, Weiss Ratings cut The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction dated 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 completion of the transaction, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in The Hartford Insurance Group in the first quarter worth $4,131,000. Abacus Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the 4th quarter worth about $1,971,000. SEB Asset Management AB bought a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $69,310,000. Strs Ohio lifted its position in The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider's stock valued at $26,994,000 after acquiring an additional 8,890 shares during the period. Finally, Arbejdsmarkedets Tillaegspension boosted its stake in The Hartford Insurance Group by 4.6% during the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider's stock worth $25,303,000 after acquiring an additional 8,250 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 0.1%

HIG stock opened at $136.30 on Monday. The stock has a 50-day simple moving average of $137.56 and a two-hundred day simple moving average of $136.63. The Hartford Insurance Group has a twelve month low of $120.33 and a twelve month high of $146.07. The firm has a market capitalization of $36.92 billion, a PE ratio of 8.81, a PEG ratio of 3.34 and a beta of 0.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.41 earnings per share. On average, equities analysts predict that The Hartford Insurance Group will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is 15.51%.

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.

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