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

The Hartford Insurance Group (NYSE:HIGGet Free Report) released its earnings results on Thursday. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26, FiscalAI reports. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 15.00%.The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.41 EPS.

The Hartford Insurance Group Stock Down 1.2%

The Hartford Insurance Group stock opened at $140.50 on Friday. The Hartford Insurance Group has a 52-week low of $120.33 and a 52-week high of $144.50. 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 firm has a 50 day moving average price of $133.83 and a two-hundred day moving average price of $135.51. The firm has a market cap of $38.52 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 3.88 and a beta of 0.47.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On The Hartford Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in HIG. Compound Planning Inc. increased its stake in shares of The Hartford Insurance Group by 7.9% during the 4th quarter. Compound Planning Inc. now owns 6,754 shares of the insurance provider’s stock worth $931,000 after purchasing an additional 497 shares during the last quarter. Claris Financial LLC purchased a new position in shares of The Hartford Insurance Group during the 4th quarter valued at $218,000. Corient Private Wealth LLC grew its stake 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 acquiring an additional 8,691 shares during the period. Mercer Global Advisors Inc. ADV raised its stake 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 valued at $54,013,000 after acquiring an additional 11,621 shares during the period. Finally, Vident Advisory LLC boosted its position in The Hartford Insurance Group by 2.9% during the fourth quarter. Vident Advisory LLC now owns 12,798 shares of the insurance provider’s stock worth $1,764,000 after purchasing an additional 359 shares during the period. Institutional investors own 93.42% of the company’s stock.

Key The Hartford Insurance Group News

Here are the key news stories impacting The Hartford Insurance Group this week:

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HIG. UBS Group reduced their price target on shares of 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. JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Mizuho raised their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average price target of $148.75.

Check Out Our Latest Research Report on HIG

About The Hartford Insurance Group

(Get Free Report)

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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Earnings History for The Hartford Insurance Group (NYSE:HIG)

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