Engineers Gate Manager LP boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 262.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,198 shares of the insurance provider’s stock after purchasing an additional 44,310 shares during the period. Engineers Gate Manager LP’s holdings in The Hartford Insurance Group were worth $8,110,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of HIG. Y Intercept Hong Kong Ltd purchased a new position in The Hartford Insurance Group in the first quarter valued at about $4,131,000. Strs Ohio increased its stake in shares of The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after purchasing an additional 8,890 shares during the last quarter. SEB Asset Management AB bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth approximately $69,310,000. Abacus Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 4th quarter worth approximately $1,971,000. Finally, Arbejdsmarkedets Tillaegspension grew 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 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.
Analysts Set New Price Targets
A number of research analysts have recently commented on HIG shares. Royal Bank Of Canada upped their price target 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. Mizuho increased their target price on shares of 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. Piper Sandler restated a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, September 4th. Finally, Barclays reduced their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Hold” and an average target price of $149.67.
The Hartford Insurance Group Price Performance
Shares of NYSE:HIG opened at $136.59 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. 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 stock has a market cap of $37.00 billion, a P/E ratio of 8.83, a P/E/G ratio of 2.40 and a beta of 0.45. The company has a 50 day moving average of $139.35 and a 200 day moving average of $136.30.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $3.41 EPS. As a group, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.
About The Hartford Insurance Group
The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.
The company’s business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers’ compensation, commercial auto, general liability, property, professional liability and other coverage.
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