The Hartford Insurance Group’s (HIG) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of The Hartford Insurance Group (NYSE:HIG) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $149.00 target price on the insurance provider’s stock, down from their previous target price of $163.00.

Several other analysts also recently issued reports on the company. Morgan Stanley increased their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Mizuho initiated coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price objective on the stock. Citigroup upped their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Evercore increased 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. Finally, UBS Group raised their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $147.25.

The Hartford Insurance Group Trading Down 0.4%

Shares of HIG stock opened at $134.70 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The firm’s 50 day moving average price is $137.23 and its two-hundred day moving average price is $134.04. The stock has a market cap of $37.16 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the business earned $2.94 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s payout ratio is currently 17.99%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 384,621 shares of company stock valued at $53,010,925 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

A number of hedge funds have recently bought and sold shares of the business. Cornerstone Planning Group LLC boosted its stake in shares of The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter worth $26,000. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter worth $27,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at $29,000. Finally, Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group in the third quarter valued at $29,000. Institutional investors and hedge funds 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.