Edmond DE Rothschild Holding S.A. Makes New $505,000 Investment in The Hartford Insurance Group, Inc. $HIG

Edmond DE Rothschild Holding S.A. acquired a new position in shares of 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 firm acquired 3,807 shares of the insurance provider’s stock, valued at approximately $505,000.

Several other hedge funds also recently modified their holdings of the stock. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $26,000. MidFirst Bank acquired a new stake in The Hartford Insurance Group in the second quarter worth $26,000. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the third quarter valued at $26,000. Navigoe LLC bought a new stake in The Hartford Insurance Group in the second quarter valued at $27,000. Finally, Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group during the first quarter valued at about $29,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 0.3%

Shares of NYSE HIG opened at $137.17 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50-day moving average price of $137.43 and a 200-day moving average price of $136.64. The stock has a market capitalization of $37.16 billion, a P/E ratio of 8.87, a P/E/G ratio of 3.38 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping 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 company 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 firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is currently 15.51%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HIG shares. Royal Bank Of Canada increased their price objective 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. Zacks Research downgraded The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Mizuho increased their price target 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. UBS Group reduced their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Hold” and an average target price of $149.67.

About The Hartford Insurance Group

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.