Jupiter Topco LLC Makes New $50.18 Million Investment in The Hartford Insurance Group, Inc. $HIG

Jupiter Topco LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 378,673 shares of the insurance provider’s stock, valued at approximately $50,184,000. Jupiter Topco LLC owned 0.14% of The Hartford Insurance Group at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms recently commented on HIG. Keefe, Bruyette & Woods lifted 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 note on Tuesday, July 28th. Mizuho increased their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings restated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday. Piper Sandler reiterated a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald increased their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Trading Down 1.5%

NYSE HIG opened at $137.77 on Friday. The stock has a market cap of $37.32 billion, a PE ratio of 8.91, a PEG ratio of 3.44 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The company’s 50-day moving average price is $138.29 and its 200-day moving average price is $136.57. 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 Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion during 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 firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared 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. This represents a $2.40 annualized dividend and a dividend 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%.

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.