Brokerages Set The Hartford Insurance Group, Inc. (NYSE:HIG) Price Target at $144.60

The Hartford Insurance Group, Inc. (NYSE:HIG) has received a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $144.60.

Several brokerages recently commented on HIG. Wells Fargo & Company cut their target price on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. UBS Group boosted their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock.

The Hartford Insurance Group Trading Up 0.1%

HIG opened at $139.05 on Wednesday. The Hartford Insurance Group has a twelve month low of $104.93 and a twelve month high of $139.92. The company has a fifty day moving average of $131.02 and a 200-day moving average of $129.15. The stock has a market cap of $38.75 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.63. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm posted $2.53 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. lifted its stake in shares of The Hartford Insurance Group by 5.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after buying an additional 80 shares in the last quarter. Mather Group LLC. raised its holdings in shares of The Hartford Insurance Group by 4.5% in the 3rd quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock worth $257,000 after acquiring an additional 83 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock worth $303,000 after acquiring an additional 85 shares during the last quarter. Monument Capital Management lifted its position in The Hartford Insurance Group by 0.4% in the 3rd quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock valued at $3,243,000 after acquiring an additional 85 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in The Hartford Insurance Group by 4.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

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.