The Hartford Insurance Group (NYSE:HIG) Posts Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Key Points

• Missed expectations: The Hartford reported Q EPS of $3.09, missing consensus by $0.30, even as revenue rose 6.1% year-over-year to $14.45 billion.
• The company declared a quarterly dividend of $0.60 (annualized $2.40, yield 1.7%, payout ratio 17.99%) and trades at a market cap of $38.56 billion with a P/E of 10.48.
• Insiders sold 349,282 shares worth about $48.2 million over the last three months (including large CEO and EVP sales), while analysts have an average rating of "Moderate Buy" and an average price target of $149.56.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) issued its earnings results on Thursday. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30), FiscalAI reports. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The business's quarterly revenue was up 6.1% on a year-over-year basis.

The Hartford Insurance Group Price Performance

HIG stock opened at $139.78 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50-day simple moving average of $137.79 and a two-hundred day simple moving average of $134.73. The company has a market capitalization of $38.56 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The Hartford Insurance Group has a 52-week low of $116.66 and a 52-week high of $144.50.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group's payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HIG. Wells Fargo & Company increased their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. JPMorgan Chase & Co. boosted their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a "neutral" rating in a report on Wednesday, January 7th. Roth Mkm upped their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Cantor Fitzgerald cut their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $149.56.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 349,282 shares of company stock valued at $48,184,324. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds have recently bought and sold shares of HIG. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group in the first quarter valued at about $207,000. Certuity LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $204,000. Investment Research Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 4th quarter worth approximately $204,000. Parkside Financial Bank & Trust raised its holdings in shares of The Hartford Insurance Group by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,173 shares of the insurance provider's stock worth $162,000 after purchasing an additional 154 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $135,000. 93.42% of the stock is owned by hedge funds and other 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.