Mirae Asset Global Investments Co. Ltd. Buys New Position in The Hartford Insurance Group, Inc. $HIG

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 100,505 shares of the insurance provider’s stock, valued at approximately $12,298,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIG. Profund Advisors LLC lifted its position in shares of The Hartford Insurance Group by 9.8% during the third quarter. Profund Advisors LLC now owns 2,522 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 225 shares during the last quarter. Vise Technologies Inc. boosted its stake in shares of The Hartford Insurance Group by 16.5% during the third quarter. Vise Technologies Inc. now owns 90,490 shares of the insurance provider’s stock valued at $11,072,000 after purchasing an additional 12,843 shares during the period. Cidel Asset Management Inc. grew its holdings in shares of The Hartford Insurance Group by 6.6% in the third quarter. Cidel Asset Management Inc. now owns 2,470 shares of the insurance provider’s stock worth $302,000 after purchasing an additional 152 shares during the last quarter. Aprio Wealth Management LLC grew its holdings in shares of The Hartford Insurance Group by 7.7% in the third quarter. Aprio Wealth Management LLC now owns 3,869 shares of the insurance provider’s stock worth $473,000 after purchasing an additional 278 shares during the last quarter. Finally, Avestar Capital LLC bought a new position in shares of The Hartford Insurance Group in the third quarter worth about $407,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $134.76 on Wednesday. The Hartford Insurance Group, Inc. has a twelve month low of $120.42 and a twelve month high of $146.07. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $132.87 and a two-hundred day simple moving average of $135.39. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 1.91 and a beta of 0.48.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.17 by $0.33. The firm had revenue of $7.22 billion for the quarter, compared to analyst estimates of $7.37 billion. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.78 earnings per share. On average, analysts predict that The Hartford Insurance Group, Inc. will post 13.28 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 14.53%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HIG. Keefe, Bruyette & Woods decreased their price objective on shares of The Hartford Insurance Group from $144.00 to $137.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Cantor Fitzgerald dropped their target price on shares of The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank Of Canada raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Finally, Morgan Stanley decreased their price target on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $144.69.

The Hartford Insurance Group Profile

The Hartford Insurance Group, Inc, commonly known 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 to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.