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

The Hartford Insurance Group, Inc. (NYSE:HIG) has earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $149.3125.

Several equities research analysts have recently weighed in on HIG shares. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Roth Mkm upped their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Mizuho increased their price objective on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. 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. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Wednesday, May 13th.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The stock was 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 in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Institutional Trading of The Hartford Insurance Group

Large investors have recently modified their holdings of the company. Cornerstone Planning Group LLC grew its position 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 worth $26,000 after buying an additional 184 shares in the last quarter. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group in the third quarter worth about $26,000. United Financial Planning Group LLC bought a new position in The Hartford Insurance Group during the 3rd quarter worth about $29,000. Finally, Phillip James Consulting Co. bought a new position in The Hartford Insurance Group during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $136.51 on Friday. The stock has a market cap of $37.42 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $135.79 and a 200-day moving average price of $135.58. The Hartford Insurance Group has a one year low of $119.61 and a one year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. Equities analysts expect that The Hartford Insurance Group will post 13.17 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date was 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 presently 16.87%.

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.