NEOS Investment Management LLC Has $6.01 Million Position in The Hartford Insurance Group, Inc. $HIG

NEOS Investment Management LLC increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 14.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,347 shares of the insurance provider’s stock after purchasing an additional 5,720 shares during the period. NEOS Investment Management LLC’s holdings in The Hartford Insurance Group were worth $6,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Pacific Financial bought a new position in The Hartford Insurance Group in the first quarter valued at approximately $26,000. MidFirst Bank bought a new stake in shares of The Hartford Insurance Group during the second quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $26,000. Navigoe LLC bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at $27,000. Finally, Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HIG shares. Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Piper Sandler reiterated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Mizuho boosted their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday, August 24th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $138.19 on Monday. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year 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 firm has a fifty day simple moving average of $139.15 and a 200 day simple moving average of $136.44. The stock has a market capitalization of $37.43 billion, a PE ratio of 8.93, a P/E/G ratio of 2.43 and a beta of 0.45.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 earnings per share. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS 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 is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 15.51%.

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.