The Hartford Insurance Group (NYSE:HIG) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

The Hartford Insurance Group, Inc. (NYSE:HIG)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $135.43 and traded as low as $132.18. The Hartford Insurance Group shares last traded at $133.7030, with a volume of 4,363,584 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Piper Sandler lowered shares of The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and cut their target price for the company from $148.00 to $146.00 in a research note on Wednesday, July 15th. UBS Group reduced their price target on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Morgan Stanley lowered their price objective on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Finally, Wells Fargo & Company dropped their price target on The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Hold” and an average target price of $145.25.

The Hartford Insurance Group Stock Up 1.7%

The company’s 50 day moving average price is $133.06 and its two-hundred day moving average price is $135.37. The company has a current ratio of 0.28, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market cap of $35.37 billion, a P/E ratio of 9.24, a PEG ratio of 2.08 and a beta of 0.49.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The company had revenue of $7.22 billion during the quarter, compared to analyst estimates of $7.37 billion. During the same period in the previous year, the business posted $3.78 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s payout ratio is presently 14.53%.

Hedge Funds Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in shares of The Hartford Insurance Group in the first quarter worth about $4,131,000. Strs Ohio increased its holdings in The Hartford Insurance Group by 4.7% in the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after acquiring an additional 8,890 shares in the last quarter. SEB Asset Management AB purchased a new stake in The Hartford Insurance Group in the 1st quarter worth approximately $69,310,000. Arbejdsmarkedets Tillaegspension raised its stake in The Hartford Insurance Group by 4.6% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock worth $25,303,000 after acquiring an additional 8,250 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in The Hartford Insurance Group during the 2nd quarter worth approximately $2,286,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.