The Hartford Insurance Group (NYSE:HIG) Hits New 12-Month High After Analyst Upgrade

The Hartford Insurance Group, Inc. (NYSE:HIG) reached a new 52-week high during trading on Monday after Mizuho upgraded the stock to a strong-buy rating. The company traded as high as $138.70 and last traded at $138.4210, with a volume of 2244035 shares trading hands. The stock had previously closed at $135.30.

A number of other brokerages have also recently weighed in on HIG. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective on the stock. Piper Sandler boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, UBS Group lifted their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $144.60.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Several hedge funds have recently bought and sold shares of HIG. Wealth Enhancement Advisory Services LLC lifted its stake in The Hartford Insurance Group by 61.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock worth $15,727,000 after purchasing an additional 47,919 shares in the last quarter. Capital Fund Management S.A. raised its holdings in shares of The Hartford Insurance Group by 94.9% in the 2nd quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock valued at $17,805,000 after buying an additional 68,351 shares during the period. New York State Common Retirement Fund lifted its stake in The Hartford Insurance Group by 12.0% during the 2nd quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock worth $26,546,000 after acquiring an additional 22,500 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in The Hartford Insurance Group by 7.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,001 shares of the insurance provider’s stock valued at $743,000 after acquiring an additional 441 shares during the period. Finally, Ground Swell Capital LLC acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at about $324,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

The stock’s 50 day simple moving average is $130.53 and its 200-day simple moving average is $128.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $38.59 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.