The Hartford Insurance Group, Inc. (NYSE:HIG) Stock Has Consensus Target Price of $144.69

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have received a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Thirteen analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $143.50.

Several brokerages recently commented on HIG. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Mizuho cut their price objective on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Cantor Fitzgerald reduced their target price on shares of The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating for the company in a research note on Monday, November 2nd. UBS Group reduced their target price on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Costello sold 31,597 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $135.75, for a total value of $4,289,292.75. Following the transaction, the chief financial officer directly owned 82,988 shares of the company’s stock, valued at approximately $11,265,621. This trade represents a 27.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $4,067,052,000. Dimensional Fund Advisors LP lifted its position in The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock worth $635,490,000 after purchasing an additional 72,448 shares during the period. Bank of America Corp DE boosted its stake in The Hartford Insurance Group by 2.1% during the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock worth $518,150,000 after buying an additional 79,827 shares in the last quarter. First Trust Advisors LP boosted its stake in The Hartford Insurance Group by 5.8% during the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock worth $468,113,000 after buying an additional 189,916 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in The Hartford Insurance Group during the second quarter worth $346,877,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 0.5%

Shares of NYSE HIG opened at $137.13 on Friday. The firm has a market capitalization of $36.67 billion, a PE ratio of 8.30, a PEG ratio of 1.94 and a beta of 0.48. The Hartford Insurance Group has a one year low of $120.42 and a one year high of $146.07. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $132.67 and a two-hundred day moving average price of $135.60.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The company had revenue of $7.22 billion during the quarter, compared to analyst estimates of $7.37 billion. During the same quarter last year, the business posted $3.78 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts predict that The Hartford Insurance Group will post 13.34 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be given a $0.67 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 1st. The Hartford Insurance Group’s payout ratio is presently 16.22%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc., known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals. Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.