The Hartford Insurance Group (NYSE:HIG) Shares Break Above Two Hundred Day Moving Average on Insider Selling

The Hartford Insurance Group, Inc. (NYSE:HIG)’s stock price 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 trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. Wells Fargo & Company cut their target price on shares of 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. Morgan Stanley decreased their price target on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Truist Financial initiated coverage on shares of The Hartford Insurance Group in a research report on Monday, October 12th. They issued a “hold” rating and a $137.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on The Hartford Insurance Group from $144.00 to $137.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Finally, Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Hold” and a consensus price target of $144.69.

The Hartford Insurance Group Stock Performance

The stock 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 company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $132.87 and its two-hundred day moving average is $135.43.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.17 by $0.33. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The firm had revenue of $7.22 billion during the quarter, compared to analysts’ expectations of $7.37 billion. During the same quarter in the prior year, the company earned $3.78 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Analysts expect that The Hartford Insurance Group, Inc. will post 13.31 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.67 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 1st. The Hartford Insurance Group’s payout ratio is currently 14.53%.

Institutional Inflows and Outflows

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

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.