The Hartford Insurance Group (NYSE:HIG) Releases Earnings Results, Beats Expectations By $0.58 EPS

Key Points

• The Hartford Insurance Group reported earnings of $3.41 EPS for the quarter, exceeding forecasts by $0.63.
• The company declared a $0.52 quarterly dividend, representing an annualized yield of 1.72%, payable on October 2nd.
• Analysts have maintained a consensus rating of "Moderate Buy" with a target price averaging $133.67 for the stock.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) issued its quarterly earnings results on Monday. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.58, Zacks reports. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share.

The Hartford Insurance Group Stock Down 1.7%

NYSE HIG opened at $121.27 on Tuesday. The business has a fifty day moving average price of $125.50 and a 200 day moving average price of $120.34. The Hartford Insurance Group has a one year low of $103.96 and a one year high of $132.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $34.45 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.29 and a beta of 0.69.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 20.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HIG shares. Keefe, Bruyette & Woods dropped their target price on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group boosted their price target on The Hartford Insurance Group from $142.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group decreased their price target on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a report on Friday, April 11th. Raymond James Financial boosted their price target on The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Finally, Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.67.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,670 shares of the insurance provider's stock, valued at approximately $207,000. Institutional investors own 93.42% of the company's stock.

About The Hartford Insurance Group

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.