Analysts Set The Hartford Insurance Group, Inc. (NYSE:HIG) Price Target at $149.07

The Hartford Insurance Group, Inc. (NYSE:HIG) has been given a consensus rating of “Hold” by the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $149.0667.

Several analysts have recently issued reports on HIG shares. Piper Sandler reissued a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Barclays cut their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIG. BlackRock Inc. purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at $4,067,052,000. Norges Bank acquired a new stake in The Hartford Insurance Group in the 4th quarter valued at $611,724,000. Bank of America Corp DE acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at $350,777,000. Legal & General Group Plc purchased a new position in The Hartford Insurance Group in the second quarter valued at about $346,877,000. Finally, Bank of New York Mellon Corp purchased a new position in The Hartford Insurance Group in the second quarter valued at about $337,907,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG opened at $131.84 on Friday. The company’s 50 day simple moving average is $138.94 and its 200 day simple moving average is $136.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group has a 1 year low of $120.33 and a 1 year high of $146.07. The stock has a market capitalization of $35.71 billion, a PE ratio of 8.52, a P/E/G ratio of 2.31 and a beta of 0.45.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.41 earnings per share. As a group, sell-side analysts expect that The Hartford Insurance Group will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

About The Hartford Insurance Group

The Hartford Insurance Group, operating 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 primarily to businesses, individuals and organizations in the United States.

The company’s business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers’ compensation, commercial auto, general liability, property, professional liability and other coverage.