The Hartford Insurance Group, Inc. $HIG Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 46,402 shares of the insurance provider’s stock after selling 5,051 shares during the period. Van ECK Associates Corp’s holdings in The Hartford Insurance Group were worth $6,149,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $4,131,000. SEB Asset Management AB purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth about $69,310,000. Abacus Wealth Partners LLC acquired a new position in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $1,971,000. Strs Ohio raised its holdings in The Hartford Insurance Group by 4.7% in the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after acquiring an additional 8,890 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension raised its stake in shares of The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after purchasing an additional 8,250 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Cantor Fitzgerald lifted their price objective 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. Weiss Ratings reissued a “buy (b+)” rating on shares of The Hartford Insurance Group in a report on Monday, August 24th. Finally, Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Price Performance

HIG opened at $137.25 on Thursday. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The firm has a market capitalization of $37.18 billion, a P/E ratio of 8.87, a PEG ratio of 2.41 and a beta of 0.45. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $138.87 and a 200-day moving average of $136.47.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 EPS. Equities 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 company also recently disclosed 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 of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 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.