The Hartford Insurance Group (NYSE:HIG) Stock Crosses Above 200-Day Moving Average on Insider Selling

The Hartford Insurance Group, Inc. (NYSE:HIG) passed above its 200-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 200-day moving average of $135.43 and traded as high as $138.15. The Hartford Insurance Group shares last traded at $138.0680, with a volume of 1,804,883 shares.

Wall Street Analysts Forecast Growth

HIG has been the topic of several recent research reports. Mizuho cut their price objective on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Wells Fargo & Company cut their target price on The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. upped 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 report on Monday, July 20th. Finally, Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus target price of $144.69.

The Hartford Insurance Group Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.90 and a beta of 0.48. The stock has a 50 day moving average price of $132.87 and a two-hundred day moving average price of $135.43.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.37 billion. During the same period in the previous year, the firm posted $3.78 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, analysts predict that The Hartford Insurance Group, Inc. will post 13.31 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 1st will be issued a $0.67 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 14.53%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. M&G PLC boosted its holdings in The Hartford Insurance Group by 2.2% during the third quarter. M&G PLC now owns 157,967 shares of the insurance provider’s stock worth $19,272,000 after buying an additional 3,352 shares during the last quarter. AlphaCore Capital LLC increased its stake in shares of The Hartford Insurance Group by 170.4% in the 3rd quarter. AlphaCore Capital LLC now owns 10,693 shares of the insurance provider’s stock valued at $1,311,000 after acquiring an additional 6,739 shares during the last quarter. Leuthold Group LLC increased its stake in shares of The Hartford Insurance Group by 8.8% in the 3rd quarter. Leuthold Group LLC now owns 38,160 shares of the insurance provider’s stock valued at $4,669,000 after acquiring an additional 3,093 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $738,000. Finally, Brighton Jones LLC raised its position in shares of The Hartford Insurance Group by 68.7% in the 3rd quarter. Brighton Jones LLC now owns 4,802 shares of the insurance provider’s stock valued at $588,000 after acquiring an additional 1,955 shares during the period. Institutional investors own 93.42% of the company’s stock.

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.