44,051 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Cibc World Market Inc.

Cibc World Market Inc. purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, HoldingsChannel.com reports. The firm purchased 44,051 shares of the insurance provider’s stock, valued at approximately $5,838,000.

Several other hedge funds have also recently added to or reduced their stakes in HIG. Northwestern Mutual Wealth Management Co. increased its stake 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 in the last quarter. BlackRock Inc. bought a new position in The Hartford Insurance Group in the second quarter valued at approximately $4,067,052,000. Norges Bank bought a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $611,724,000. Bank of New York Mellon Corp acquired a new position in shares of The Hartford Insurance Group in the second quarter valued at approximately $337,907,000. Finally, Deutsche Bank AG bought a new stake in shares of The Hartford Insurance Group during the second quarter worth $145,575,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $138.19 on Wednesday. The company has a fifty day moving average price of $137.90 and a two-hundred day moving average price of $136.62. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The stock has a market cap of $37.43 billion, a P/E ratio of 8.93, a P/E/G ratio of 3.41 and a beta of 0.46. 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 (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the firm earned $3.41 EPS. The Hartford Insurance Group’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a $0.60 dividend. 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 (DPR) is presently 15.51%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective 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. Wells Fargo & Company reduced their target price on shares of 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. Cantor Fitzgerald increased their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Royal Bank Of Canada lifted 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 note on Monday, July 27th. Finally, Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.67.

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.