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

The Hartford Insurance Group, Inc. (NYSE:HIG) has been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $147.3125.

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. UBS Group reduced their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Barclays decreased 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 research report on Friday, June 12th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Finally, Piper Sandler cut their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in HIG. First Pacific Financial purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $26,000. United Financial Planning Group LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $29,000. Phillip James Consulting Co. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $29,000. Finally, Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $137.52 on Friday. The business has a 50-day moving average of $132.49 and a 200 day moving average of $135.45. The Hartford Insurance Group has a 12 month low of $119.61 and a 12 month high of $144.50. The stock has a market capitalization of $37.70 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 2.53 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released 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 firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, sell-side analysts forecast that The Hartford Insurance Group will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

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.