The Hartford Insurance Group, Inc. $HIG Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 152.5% during the second quarter, HoldingsChannel reports. The firm owned 544,097 shares of the insurance provider’s stock after buying an additional 328,586 shares during the period. Squarepoint Ops LLC’s holdings in The Hartford Insurance Group were worth $72,104,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HIG. Northwestern Mutual Wealth Management Co. boosted its holdings in The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. California State Teachers Retirement System raised its stake in shares of The Hartford Insurance Group by 14,253.4% during the second quarter. California State Teachers Retirement System now owns 54,248,255 shares of the insurance provider’s stock valued at $7,188,979,000 after purchasing an additional 53,870,308 shares during the period. BlackRock Inc. acquired a new position in shares of The Hartford Insurance Group during the second quarter worth $4,067,052,000. State Street Corp boosted its stake in shares of The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the period. Finally, Geode Capital Management LLC grew its holdings in The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after purchasing an additional 34,274 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HIG. Cantor Fitzgerald upped 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 report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday, August 24th. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Barclays lowered their price objective on 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. Finally, Piper Sandler restated 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. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Trading Down 1.9%

Shares of NYSE HIG opened at $135.71 on Wednesday. The stock’s 50 day moving average price is $139.31 and its two-hundred day moving average price is $136.36. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The stock has a market capitalization of $36.76 billion, a P/E ratio of 8.77, a PEG ratio of 2.43 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 Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is 15.51%.

The Hartford Insurance Group Company 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.