Man Group plc Makes New $83.68 Million Investment in The Hartford Insurance Group, Inc. $HIG

Man Group plc bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIGFree Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 631,428 shares of the insurance provider’s stock, valued at approximately $83,677,000. Man Group plc owned approximately 0.23% of The Hartford Insurance Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in The Hartford Insurance Group in the first quarter worth about $4,131,000. Abacus Wealth Partners LLC bought a new stake in The Hartford Insurance Group during the 4th quarter worth about $1,971,000. SEB Asset Management AB acquired a new position in The Hartford Insurance Group during the 1st quarter valued at about $69,310,000. Strs Ohio lifted its position in The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after purchasing an additional 8,890 shares during the period. Finally, Arbejdsmarkedets Tillaegspension boosted its stake in shares of The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after purchasing an additional 8,250 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Down 0.6%

Shares of NYSE HIG opened at $138.19 on Wednesday. The stock has a market cap of $37.43 billion, a P/E ratio of 8.93, a P/E/G ratio of 3.41 and a beta of 0.46. The firm has a 50 day moving average price of $137.90 and a 200 day moving average price of $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 Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion for 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 business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $3.41 earnings per share. Analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HIG shares. Zacks Research downgraded shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Barclays reduced their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday. Cantor Fitzgerald increased their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Mizuho raised their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $149.67.

Get Our Latest Stock Report on The Hartford Insurance Group

The Hartford Insurance Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for The Hartford Insurance Group (NYSE:HIG)

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