The Hartford Insurance Group (NYSE:HIG) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of The Hartford Insurance Group (NYSE:HIG) in a research report report published on Monday morning, MarketBeat reports. The firm issued a hold rating and a $137.00 target price on the insurance provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Piper Sandler restated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Cantor Fitzgerald boosted their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. UBS Group cut their price target on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus target price of $145.25.

The Hartford Insurance Group Stock Performance

HIG opened at $130.08 on Monday. The firm has a market cap of $35.23 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 2.13 and a beta of 0.49. The Hartford Insurance Group has a 52-week low of $120.33 and a 52-week high of $146.07. 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 business’s fifty day moving average is $134.51 and its 200-day moving average is $135.02.

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 analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The Hartford Insurance Group’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $3.41 earnings per share. Sell-side analysts expect that The Hartford Insurance Group will post 12.85 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

Hedge Funds Weigh In On The Hartford Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in The Hartford Insurance Group in the second quarter valued at $4,067,052,000. Dimensional Fund Advisors LP increased its holdings in The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock worth $635,490,000 after purchasing an additional 72,448 shares in the last quarter. Bank of America Corp DE increased its stake in shares of The Hartford Insurance Group by 2.1% in the 1st quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock valued at $518,150,000 after acquiring an additional 79,827 shares in the last quarter. First Trust Advisors LP increased its stake in The Hartford Insurance Group by 5.8% in the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock valued at $468,113,000 after purchasing an additional 189,916 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at about $346,877,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford’s main business includes commercial property and casualty insurance, workers’ compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.