The Hartford Insurance Group (NYSE:HIG) Issues Earnings Results, Beats Estimates By $0.84 EPS

The Hartford Insurance Group (NYSE:HIG) posted its earnings results on Thursday. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84, FiscalAI reports. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.94 EPS.

The Hartford Insurance Group Stock Performance

NYSE HIG traded up $0.59 during mid-day trading on Friday, reaching $132.96. 262,464 shares of the stock were exchanged, compared to its average volume of 1,389,314. The company has a market capitalization of $37.05 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.06 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Insurance Group has a 1 year low of $105.98 and a 1 year high of $140.50. The business’s 50 day moving average is $134.83 and its 200-day moving average is $131.01.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Cantor Fitzgerald increased their price objective on shares of The Hartford Insurance Group from $152.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. UBS Group increased their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, Evercore ISI upped their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.47.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $26,000. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group in the third quarter valued at about $29,000. Triumph Capital Management purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $67,000. Larson Financial Group LLC lifted its position in shares of The Hartford Insurance Group by 16.4% during the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 87 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in The Hartford Insurance Group by 40.4% in the third quarter. Johnson Financial Group Inc. now owns 911 shares of the insurance provider’s stock valued at $122,000 after buying an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.