The Hartford Insurance Group, Inc. (NYSE:HIG) Stock Has Average Target Price of $149.07 According to Brokerages

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have been given a consensus recommendation of “Hold” by the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $149.07.

HIG has been the topic of a number of research reports. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Barclays dropped 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. Finally, Mizuho cut shares of The Hartford Insurance Group from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $163.00 to $154.00 in a research report on Wednesday, September 16th.

The Hartford Insurance Group Stock Down 0.8%

HIG opened at $125.60 on Friday. The Hartford Insurance Group has a 1-year low of $120.33 and a 1-year high of $146.07. The stock’s fifty day simple moving average is $138.19 and its 200 day simple moving average is $135.70. 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 stock has a market cap of $34.02 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.45.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.41 earnings per share. As a group, research analysts expect that The Hartford Insurance Group will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HIG. BlackRock Inc. bought a new position in shares of The Hartford Insurance Group in the second quarter worth $4,067,052,000. Norges Bank bought a new stake in The Hartford Insurance Group during the fourth quarter worth about $611,724,000. Bank of America Corp DE acquired a new stake in The Hartford Insurance Group during the second quarter worth about $350,777,000. Legal & General Group Plc bought a new position in The Hartford Insurance Group in the 2nd quarter valued at about $346,877,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $337,907,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.

The company’s business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers’ compensation, commercial auto, general liability, property, professional liability and other coverage.