The Hartford Insurance Group, Inc. (NYSE:HIG) to Issue $0.52 Quarterly Dividend

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, RTT News reports. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.52 per share by the insurance provider on Thursday, October 2nd. This represents a $2.08 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, September 2nd.

The Hartford Insurance Group has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect The Hartford Insurance Group to earn $12.67 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 16.4%.

The Hartford Insurance Group Trading Up 0.2%

Shares of NYSE:HIG traded up $0.30 during trading on Friday, hitting $123.34. 1,415,434 shares of the company's stock were exchanged, compared to its average volume of 1,472,119. The Hartford Insurance Group has a 1-year low of $103.96 and a 1-year high of $132.09. The firm has a 50-day moving average price of $125.71 and a two-hundred day moving average price of $120.16. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The firm has a market cap of $35.04 billion, a P/E ratio of 12.30, a PEG ratio of 1.29 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the firm earned $2.34 EPS. The Hartford Insurance Group's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that The Hartford Insurance Group will post 11.11 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on HIG. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Piper Sandler lifted their price objective on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Wells Fargo & Company lifted their price objective on shares of The Hartford Insurance Group from $134.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Barclays reduced their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Finally, Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $133.67.

Insiders Place Their Bets

In related news, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president directly owned 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On The Hartford Insurance Group

An institutional investor recently bought a new position in The Hartford Insurance Group stock. Ashton Thomas Private Wealth LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,670 shares of the insurance provider's stock, valued at approximately $207,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.