Wealthfront Advisers LLC bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm bought 58,953 shares of the insurance provider’s stock, valued at approximately $7,812,000.
Other hedge funds have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $4,131,000. Abacus Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 4th quarter worth approximately $1,971,000. SEB Asset Management AB acquired a new stake in The Hartford Insurance Group during the first quarter valued at approximately $69,310,000. Strs Ohio lifted its stake in The Hartford Insurance Group by 4.7% during the first 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 last quarter. Finally, Arbejdsmarkedets Tillaegspension boosted its holdings in The Hartford Insurance Group by 4.6% during the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock worth $25,303,000 after buying an additional 8,250 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
HIG has been the topic of several recent research reports. Piper Sandler restated a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Wells Fargo & Company reduced their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Mizuho boosted their target price 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. Finally, Barclays reduced their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Hold” and an average target price of $149.67.
The Hartford Insurance Group Stock Down 0.8%
HIG stock opened at $137.83 on Thursday. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The company’s 50 day simple moving average is $137.25 and its 200-day simple moving average is $136.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $37.33 billion, a P/E ratio of 8.91, a P/E/G ratio of 3.41 and a beta of 0.46.
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 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 analyst estimates of $7.17 billion. During the same quarter last year, the business posted $3.41 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.
The Hartford Insurance Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued 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 presently 15.51%.
Insider Activity
In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is 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.
Read More
- Five stocks we like better than The Hartford Insurance Group
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report).
Receive News & Ratings for The Hartford Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.
