The Hartford Insurance Group (NYSE:HIG) Reaches New 12-Month High on Analyst Upgrade

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) reached a new 52-week high during mid-day trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $143.00 to $144.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. The Hartford Insurance Group traded as high as $144.97 and last traded at $144.4880, with a volume of 161701 shares trading hands. The stock had previously closed at $143.42.

A number of other research firms have also commented on HIG. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday. Barclays decreased their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Wells Fargo & Company cut their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus target price of $149.06.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company’s 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 sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter worth approximately $4,131,000. Abacus Wealth Partners LLC bought a new stake in The Hartford Insurance Group in the fourth quarter worth $1,971,000. SEB Asset Management AB purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth $69,310,000. Ameritas Advisory Services LLC increased its holdings in shares of The Hartford Insurance Group by 1,905.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 10,250 shares of the insurance provider’s stock valued at $1,412,000 after acquiring an additional 9,739 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension raised its position in shares of The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock worth $25,303,000 after purchasing an additional 8,250 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Trading Up 1.0%

The stock’s 50 day moving average is $134.08 and its 200-day moving average is $135.57. The company has a market cap of $39.22 billion, a P/E ratio of 9.36, a PEG ratio of 3.81 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the firm posted $3.41 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.73 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

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.