The Hartford Insurance Group (NYSE:HIG) Releases Earnings Results

The Hartford Insurance Group (NYSE:HIG) issued its quarterly earnings data on Thursday. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.98, FiscalAI reports. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%.

The Hartford Insurance Group Price Performance

Shares of HIG traded up $1.68 on Thursday, hitting $132.35. The company’s stock had a trading volume of 1,509,873 shares, compared to its average volume of 1,424,689. The Hartford Insurance Group has a fifty-two week low of $105.98 and a fifty-two week high of $140.50. The company has a market capitalization of $36.88 billion, a PE ratio of 10.81, a PEG ratio of 1.05 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The company has a 50 day moving average price of $134.88 and a 200 day moving average price of $131.00.

Wall Street Analyst Weigh In

HIG has been the subject of several analyst reports. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price for the company. Finally, Evercore ISI boosted their price target 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 given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.47.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group 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 completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% 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 the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Insurance Group

Several hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the period. Invesco Ltd. grew its stake in The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after buying an additional 496,821 shares during the last quarter. Bank of America Corp DE boosted its position in shares of The Hartford Insurance Group by 7.5% in the second quarter. Bank of America Corp DE now owns 3,281,825 shares of the insurance provider’s stock valued at $416,365,000 after acquiring an additional 228,780 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of The Hartford Insurance Group by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,050,678 shares of the insurance provider’s stock worth $260,308,000 after purchasing an additional 11,412 shares in the last quarter. Finally, Amundi boosted its stake in The Hartford Insurance Group by 6.6% in the third quarter. Amundi now owns 1,772,398 shares of the insurance provider’s stock valued at $234,914,000 after buying an additional 109,390 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.