The Hartford Insurance Group, Inc. (NYSE:HIG) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• The Hartford Insurance Group has an average analyst rating of “Moderate Buy”, with 18 analysts split evenly between hold and buy calls. The average 1-year price target is about $147.31.
• The company’s latest quarterly results missed earnings and revenue estimates, with EPS of $3.09 versus $3.39 expected and revenue of $7.23 billion versus $7.41 billion expected. Despite that miss, revenue still rose 6.1% year over year.
• The Hartford also paid a quarterly dividend of $0.60 per share, equal to a $2.40 annualized payout and a yield of 1.7%. The dividend payout ratio remains relatively low at 16.87%.

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) have been given an average rating of "Moderate Buy" by the eighteen analysts that are presently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $147.3125.

A number of research firms have weighed in on HIG. Piper Sandler reduced their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating for the company in a research report on Thursday, June 11th. Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Wells Fargo & Company lowered their price objective 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. Bank of America raised their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. Finally, UBS Group dropped their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th.

Insiders Place Their Bets

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred 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 transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of institutional investors have recently added to or reduced their stakes in HIG. CSM Advisors LLC increased its holdings in The Hartford Insurance Group by 20.6% in the 3rd quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider's stock valued at $44,866,000 after purchasing an additional 57,468 shares during the last quarter. Legal & General Group Plc raised its position in The Hartford Insurance Group by 2.2% in the third quarter. Legal & General Group Plc now owns 2,553,541 shares of the insurance provider's stock valued at $340,617,000 after purchasing an additional 55,740 shares during the period. Nordea Investment Management AB lifted its stake in The Hartford Insurance Group by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider's stock worth $606,956,000 after purchasing an additional 81,712 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in The Hartford Insurance Group during the third quarter worth $2,618,000. Finally, First Trust Advisors LP boosted its position in shares of The Hartford Insurance Group by 16.7% during the third quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider's stock worth $421,837,000 after buying an additional 452,274 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.2%

The Hartford Insurance Group stock opened at $137.52 on Friday. The stock has a market capitalization of $37.70 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 2.53 and a beta of 0.47. The Hartford Insurance Group has a 12 month low of $119.61 and a 12 month high of $144.50. The business has a 50 day simple moving average of $132.49 and a 200-day simple moving average of $135.45. 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 announced its 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 return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The company's quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group's dividend payout ratio is currently 16.87%.

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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