The Hartford Insurance Group, Inc. (NYSE:HIG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been given an average rating of “Moderate Buy” by the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $147.3125.

HIG has been the topic of a number of research reports. Piper Sandler cut their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company cut their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Bank of America raised their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods dropped their target price on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Finally, Barclays dropped their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday.

The Hartford Insurance Group Stock Down 0.1%

Shares of HIG stock opened at $129.49 on Wednesday. The stock’s 50-day simple moving average is $134.34 and its 200-day simple moving average is $135.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $35.50 billion, a PE ratio of 9.10, a P/E/G ratio of 2.35 and a beta of 0.47. The Hartford Insurance Group has a fifty-two week low of $119.61 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Equities analysts expect that The Hartford Insurance Group will post 13.05 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds have recently bought and sold shares of HIG. Northwestern Mutual Wealth Management Co. boosted its position in The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares in the last quarter. Norges Bank purchased a new position in The Hartford Insurance Group during the fourth quarter worth approximately $611,724,000. Allianz Asset Management GmbH boosted its position in The Hartford Insurance Group by 131.1% during the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after purchasing an additional 925,789 shares in the last quarter. Danske Bank A S purchased a new position in The Hartford Insurance Group during the third quarter worth approximately $91,398,000. Finally, Balyasny Asset Management L.P. boosted its position in The Hartford Insurance Group by 6,431.8% during the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after purchasing an additional 633,592 shares in the last quarter. Hedge funds and other 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.