The Hartford Insurance Group, Inc. (NYSE:HIG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been given an average rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $148.1875.

Several equities research analysts have recently issued reports on the company. Mizuho decreased their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Barclays cut their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. UBS Group cut their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Bank of America increased their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Cantor Fitzgerald cut their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth $207,000. NewEdge Advisors LLC raised its position in The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after purchasing an additional 886 shares during the period. Treasurer of the State of North Carolina raised its position in The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after purchasing an additional 6,285 shares during the period. HUB Investment Partners LLC raised its position in The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

HIG stock opened at $128.92 on Wednesday. The Hartford Insurance Group has a 52-week low of $119.61 and a 52-week high of $144.50. The stock’s fifty day simple moving average is $134.68 and its 200-day simple moving average is $135.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $35.34 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 2.30 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the business earned $2.20 EPS. The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group will post 13.12 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

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.