UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 9.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,993,187 shares of the insurance provider’s stock after selling 401,144 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.47% of The Hartford Insurance Group worth $529,177,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $4,067,052,000. Norges Bank bought a new stake in The Hartford Insurance Group during the fourth quarter worth about $611,724,000. Bank of America Corp DE acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $350,777,000. Finally, Legal & General Group Plc bought a new position in The Hartford Insurance Group in the second quarter valued at approximately $346,877,000. Institutional investors own 93.42% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on HIG shares. Piper Sandler reiterated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Wells Fargo & Company decreased their price objective 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. Mizuho boosted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $149.67.
The Hartford Insurance Group Stock Down 0.0%
HIG opened at $138.51 on Monday. The stock’s fifty day simple moving average is $138.49 and its 200 day simple moving average is $136.56. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The stock has a market cap of $37.52 billion, a PE ratio of 8.95, a price-to-earnings-growth 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 (NYSE:HIG – Get Free Report) last released its quarterly earnings data 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 Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the business posted $3.41 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.
The Hartford Insurance Group Dividend Announcement
The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 15.51%.
The Hartford Insurance Group 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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