Meiji Yasuda Asset Management Co Ltd. Invests $798,000 in The Hartford Insurance Group, Inc. $HIG

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,023 shares of the insurance provider’s stock, valued at approximately $798,000.

A number of other large investors have also added to or reduced their stakes in HIG. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at about $26,000. MidFirst Bank purchased a new stake in shares of The Hartford Insurance Group in the second quarter worth $26,000. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter worth $26,000. Navigoe LLC purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth about $27,000. Finally, Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HIG shares. 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. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Barclays decreased their price target on 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. 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 report on Monday, July 27th. Finally, Mizuho upped their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Seven 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’s stock. According to MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $138.19 on Wednesday. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The company has a 50 day moving average of $137.90 and a two-hundred day moving average of $136.62. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market cap of $37.43 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly 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 business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the business posted $3.41 EPS. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend 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 (DPR) is presently 15.51%.

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.