Analysts Set The Hartford Insurance Group, Inc. (NYSE:HIG) Target Price at $147.31

Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) have earned an average rating of “Moderate Buy” from the eighteen analysts that are covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $147.3125.

HIG has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. Piper Sandler lowered their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. UBS Group dropped their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Barclays cut their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Finally, Cantor Fitzgerald reduced their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 9th.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $139.68 on Friday. The company has a market cap of $38.29 billion, a P/E ratio of 9.82, a P/E/G ratio of 2.52 and a beta of 0.47. The business has a fifty day simple moving average of $132.55 and a 200-day simple moving average of $135.43. 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 Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. Equities research analysts forecast that The Hartford Insurance Group will post 12.9 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Balefire LLC boosted its holdings in The Hartford Insurance Group by 8.2% during the second quarter. Balefire LLC now owns 2,228 shares of the insurance provider’s stock worth $295,000 after buying an additional 169 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of The Hartford Insurance Group by 6.4% in the second quarter. Versant Capital Management Inc now owns 1,443 shares of the insurance provider’s stock valued at $191,000 after buying an additional 87 shares in the last quarter. First Financial Bank Trust Division lifted its position in shares of The Hartford Insurance Group by 5.0% during the 2nd quarter. First Financial Bank Trust Division now owns 72,903 shares of the insurance provider’s stock valued at $9,661,000 after acquiring an additional 3,492 shares during the last quarter. Eastern Bank boosted its stake in shares of The Hartford Insurance Group by 0.5% during the 2nd quarter. Eastern Bank now owns 156,429 shares of the insurance provider’s stock worth $20,730,000 after acquiring an additional 794 shares in the last quarter. Finally, DV Trading LLC bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $243,000. 93.42% of the stock is currently owned by institutional investors.

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.