The Hartford Insurance Group (NYSE:HIG) Hits New 1-Year High - Here's Why

Key Points

• The Hartford Insurance Group's stock reached a new 52-week high of $133.68, with an average rating of "Moderate Buy" from analysts.
• The company reported earnings of $3.41 per share for the last quarter, exceeding expectations by $0.58 and marking a year-over-year revenue increase of 7.7%.
• The Hartford announced a quarterly dividend of $0.52 per share, representing an annual yield of 1.6%.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $133.13 and last traded at $133.68, with a volume of 20618 shares traded. The stock had previously closed at $131.81.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HIG. Morgan Stanley increased their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, UBS Group upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.64.

The Hartford Insurance Group Trading Up 0.6%

The firm has a 50 day simple moving average of $125.64 and a 200 day simple moving average of $122.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $37.67 billion, a PE ratio of 12.15, a P/E/G ratio of 1.30 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the business posted $2.50 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Wealth Management Group LLC lifted its holdings in shares of The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider's stock valued at $28,000 after buying an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider's stock valued at $30,000 after buying an additional 99 shares during the period. Park Square Financial Group LLC lifted its holdings in shares of The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after buying an additional 155 shares during the period. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group during the 4th quarter valued at $33,000. Finally, Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $33,000. 93.42% of the stock is owned by institutional investors.

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.