The Hartford Insurance Group, Inc. (HIG) To Go Ex-Dividend on September 1st

The Hartford Insurance Group, Inc. (NYSE:HIG) announced a quarterly dividend on Wednesday, July 15th. Investors of record on Tuesday, September 1st will be given a dividend of 0.60 per share by the insurance provider on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st.

The Hartford Insurance Group has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. The Hartford Insurance Group has a payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect The Hartford Insurance Group to earn $13.87 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 17.3%.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $136.50 on Friday. The Hartford Insurance Group has a 1 year low of $120.05 and a 1 year high of $144.50. The company has a fifty day simple moving average of $132.87 and a 200 day simple moving average of $135.37. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $37.42 billion, a P/E ratio of 9.59, a P/E/G ratio of 3.09 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate 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 was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. On average, sell-side analysts predict that The Hartford Insurance Group will post 12.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HIG. Piper Sandler reissued a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Mizuho boosted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $148.38.

About The Hartford Insurance Group

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.