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 earned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $144.60.

HIG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Mizuho initiated coverage on shares of The Hartford Insurance Group in a report on Tuesday. They set an “outperform” rating and a $160.00 price target for the company. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. JPMorgan Chase & Co. increased their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company lowered their price target 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.

The Hartford Insurance Group Price Performance

HIG stock opened at $137.82 on Wednesday. The firm has a market cap of $38.40 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Insurance Group has a 1 year low of $104.93 and a 1 year high of $139.92. The stock has a 50-day simple moving average of $130.53 and a 200-day simple moving average of $128.95.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business earned $2.53 EPS. The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that The Hartford Insurance Group will post 11.11 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 Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a $0.60 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction 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 completion of the sale, 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 SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Large investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $27,000. Private Wealth Management Group LLC lifted its stake in shares of The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the last quarter. Finally, United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Company Profile

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.