The Hartford Insurance Group (NYSE:HIG) Receives Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of The Hartford Insurance Group (NYSE:HIG) in a research note released on Wednesday morning, Marketbeat.com reports. They currently have a $146.00 price target on the insurance provider’s stock, down from their previous price target of $148.00.

Several other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Wells Fargo & Company upped their price target on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Bank of America raised their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Barclays cut their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Hold” and a consensus price target of $148.38.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $134.48 on Wednesday. The business’s 50-day simple moving average is $132.79 and its 200-day simple moving average is $135.38. 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 Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The firm has a market cap of $36.86 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 3.16 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group will post 12.81 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were issued a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Insider Activity at The Hartford Insurance Group

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

Hedge Funds Weigh In On The Hartford Insurance Group

Several large investors have recently added to or reduced their stakes in the company. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the third quarter worth $26,000. Phillip James Consulting Co. acquired a new stake in The Hartford Insurance Group during the first quarter worth $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC increased its holdings in The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after buying an additional 152 shares during the period. Institutional investors and hedge funds 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.