EFG International AG Takes $5.57 Million Position in The Hartford Insurance Group, Inc. $HIG

EFG International AG purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, Holdings Channel.com reports. The fund purchased 42,004 shares of the insurance provider’s stock, valued at approximately $5,567,000.

Several other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted 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 valued at $10,178,152,000 after purchasing an additional 73,835,976 shares during the period. BlackRock Inc. acquired a new stake in The Hartford Insurance Group in the second quarter worth $4,067,052,000. State Street Corp increased its position in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after buying an additional 55,983 shares during the period. Geode Capital Management LLC lifted its stake in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after buying an additional 34,274 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after buying an additional 496,821 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 0.6%

HIG opened at $138.19 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $37.43 billion, a PE ratio of 8.93, a P/E/G ratio of 3.41 and a beta of 0.46. The stock’s fifty day moving average is $137.90 and its 200-day moving average is $136.62. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $3.41 earnings per share. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal 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 dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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 report on Wednesday, July 15th. Cantor Fitzgerald boosted their target price 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. Barclays cut their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Keefe, Bruyette & Woods boosted their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Finally, Zacks Research lowered The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Seven equities 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 stock. According to MarketBeat, the stock 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.