Analysts Set The Hartford Insurance Group, Inc. (NYSE:HIG) Price Target at $149.31

The Hartford Insurance Group, Inc. (NYSE:HIG) has received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $149.3125.

Several equities analysts have recently weighed in on HIG shares. Mizuho boosted their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Cantor Fitzgerald reduced their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Morgan Stanley upped their price target on shares of 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. Finally, Citigroup boosted their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $136.15 on Friday. The firm has a fifty day simple moving average of $135.68 and a two-hundred day simple moving average of $135.85. The Hartford Insurance Group has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $37.32 billion, a P/E ratio of 9.57, a PEG ratio of 2.45 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the business posted $2.20 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts expect that The Hartford Insurance Group will post 13.14 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On The Hartford Insurance Group

A number of hedge funds have recently added to or reduced their stakes in HIG. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $207,000. NewEdge Advisors LLC boosted its stake in shares of The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after buying an additional 6,285 shares during the period. HUB Investment Partners LLC raised its stake in The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after buying an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after buying an additional 39,220 shares during the period. 93.42% of the stock is currently owned by institutional investors.

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.