Deutsche Bank AG purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) in the second quarter, Holdings Channel reports. The firm purchased 1,098,517 shares of the insurance provider’s stock, valued at approximately $145,575,000.
Several other institutional investors have also recently bought and sold shares of HIG. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the first quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter worth about $26,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $29,000. Clearstead Trust LLC acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth about $29,000. Finally, Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on HIG. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. UBS Group dropped their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $149.67.
The Hartford Insurance Group Price Performance
Shares of NYSE:HIG opened at $137.83 on Thursday. The company’s 50-day moving average is $137.25 and its 200 day moving average is $136.62. 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 company has a market capitalization of $37.33 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 3.41 and a beta of 0.46. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.41 earnings per share. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.
The Hartford Insurance Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.
Insider Activity
In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.
The Hartford Insurance Group Company Profile
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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