Legal & General Group Plc acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,617,546 shares of the insurance provider’s stock, valued at approximately $346,877,000.
Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. BlackRock Inc. bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at about $4,067,052,000. Norges Bank bought a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at about $611,724,000. Bank of New York Mellon Corp acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $337,907,000. Finally, Deutsche Bank AG acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $145,575,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.
The Hartford Insurance Group Stock Performance
Shares of The Hartford Insurance Group stock opened at $138.19 on Wednesday. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The firm has a market capitalization of $37.43 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 3.41 and a beta of 0.46. The business has a 50-day simple moving average of $137.90 and a 200 day simple moving average of $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 Hartford Insurance Group Dividend Announcement
The company 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 presently 15.51%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Mizuho lifted their price objective on 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. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Piper Sandler reissued a “neutral” rating and set 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 raised 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 report on Tuesday, July 28th. Finally, Cantor Fitzgerald upped their price objective on shares of 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. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $149.67.
Read Our Latest Research Report on The Hartford Insurance Group
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.
Read More
- Five stocks we like better than The Hartford Insurance Group
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
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.
