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

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $143.2857.

Several analysts have commented on the company. Evercore ISI raised their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Tuesday. Raymond James Financial reissued an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a report on Tuesday. They set a “sector perform” rating and a $145.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of 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.

Insider Buying and Selling

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of HIG. Norges Bank purchased a new stake in The Hartford Insurance Group during the 2nd quarter valued at about $506,329,000. Franklin Resources Inc. boosted its holdings in shares of The Hartford Insurance Group by 51.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock worth $414,632,000 after purchasing an additional 1,111,659 shares during the last quarter. Woodline Partners LP grew its position in shares of The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after purchasing an additional 755,128 shares in the last quarter. Nuveen LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $87,516,000. Finally, Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $91,398,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 0.0%

HIG opened at $137.52 on Friday. The company has a fifty day moving average of $130.06 and a two-hundred day moving average of $128.51. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group has a fifty-two week low of $104.93 and a fifty-two week high of $138.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last posted its 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 return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm earned $2.53 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts expect that The Hartford Insurance Group will post 11.11 earnings per share 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. Shareholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 19.61%.

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.