The Hartford Insurance Group (NYSE:HIG – Get Free Report) announced its earnings results on Thursday. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26, FiscalAI reports. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion.
The Hartford Insurance Group Stock Up 1.0%
HIG traded up $1.34 during trading on Thursday, reaching $142.18. 1,679,349 shares of the stock traded hands, compared to its average volume of 1,631,238. The stock has a market cap of $38.98 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group has a fifty-two week low of $120.33 and a fifty-two week high of $144.50. The stock’s 50-day simple moving average is $133.54 and its two-hundred day simple moving average is $135.44.
The Hartford Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.
Insider Activity at The Hartford Insurance Group
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Compound Planning Inc. increased its position in The Hartford Insurance Group by 7.9% during the fourth quarter. Compound Planning Inc. now owns 6,754 shares of the insurance provider’s stock worth $931,000 after buying an additional 497 shares during the last quarter. Claris Financial LLC bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $218,000. Corient Private Wealth LLC boosted its holdings in shares of The Hartford Insurance Group by 9.1% during the 4th quarter. Corient Private Wealth LLC now owns 104,021 shares of the insurance provider’s stock worth $13,201,000 after buying an additional 8,691 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in The Hartford Insurance Group by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 391,964 shares of the insurance provider’s stock worth $54,013,000 after acquiring an additional 11,621 shares during the period. Finally, Vident Advisory LLC grew its position in shares of The Hartford Insurance Group by 2.9% in the fourth quarter. Vident Advisory LLC now owns 12,798 shares of the insurance provider’s stock valued at $1,764,000 after purchasing an additional 359 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler reissued a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald lifted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, UBS Group dropped their price target 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. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $148.75.
View Our Latest Research Report on The Hartford Insurance Group
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.
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