Equitable Holdings Inc. purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,727 shares of the insurance provider’s stock, valued at approximately $626,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of HIG. Y Intercept Hong Kong Ltd acquired a new position in shares of The Hartford Insurance Group in the 1st quarter worth $4,131,000. Abacus Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $1,971,000. SEB Asset Management AB purchased a new stake in shares of The Hartford Insurance Group during the first quarter valued at $69,310,000. Strs Ohio boosted its position in shares of The Hartford Insurance Group by 4.7% in 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 position 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 period. Institutional investors own 93.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on HIG. Mizuho boosted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Piper Sandler reissued 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. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Wells Fargo & Company reduced their price target on shares of 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, Royal Bank Of Canada raised 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. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $149.67.
The Hartford Insurance Group Stock Up 0.5%
Shares of The Hartford Insurance Group stock opened at $138.51 on Friday. The stock has a 50-day moving average price of $138.49 and a 200 day moving average price of $136.58. The company has a market cap of $37.52 billion, a P/E ratio of 8.95, a P/E/G ratio of 3.40 and a beta of 0.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.41 EPS. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.
About The Hartford Insurance Group
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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