Strategic Global Advisors LLC Purchases New Holdings in The Hartford Insurance Group, Inc. $HIG

Strategic Global Advisors LLC purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,176 shares of the insurance provider’s stock, valued at approximately $1,746,000.

Other hedge funds also recently modified their holdings of the company. Caisse de depot et placement du Quebec bought a new stake in shares of The Hartford Insurance Group during the second quarter valued at approximately $142,024,000. Man Group plc acquired a new position in shares of The Hartford Insurance Group in the second quarter valued at $83,677,000. Jupiter Topco LLC bought a new position in The Hartford Insurance Group in the second quarter worth $50,184,000. EFG International AG acquired a new stake in The Hartford Insurance Group during the second quarter worth $5,567,000. Finally, Ancora Advisors LLC acquired a new stake in The Hartford Insurance Group during the second quarter worth $173,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Up 1.3%

Shares of HIG opened at $139.95 on Thursday. 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 cap of $37.91 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.40 and a beta of 0.46. The stock has a fifty day moving average price of $138.10 and a two-hundred day moving average price of $136.60. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week 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 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of 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. Mizuho lifted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday. Keefe, Bruyette & Woods increased their price target on shares of 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, Wells Fargo & Company cut their price target 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. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Hold” and an average target price 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.