The Hartford Insurance Group, Inc. $HIG Shares Bought by National Pension Service

National Pension Service raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 554,720 shares of the insurance provider’s stock after purchasing an additional 26,060 shares during the period. National Pension Service’s holdings in The Hartford Insurance Group were worth $73,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Pacific Financial acquired a new stake in The Hartford Insurance Group during the 1st quarter worth $26,000. MidFirst Bank acquired a new position in The Hartford Insurance Group in the second quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group in the third quarter valued at $26,000. Navigoe LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $27,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HIG shares. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Barclays dropped their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their price objective on 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 lowered their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Down 0.3%

HIG stock opened at $136.33 on Friday. The stock has a market capitalization of $36.93 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.45. The company has a fifty day moving average of $139.32 and a 200-day moving average of $136.30. 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 Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for 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 business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.41 earnings per share. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders 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 1.8%. The Hartford Insurance Group’s payout ratio is presently 15.51%.

The Hartford Insurance Group Profile

The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.

The company’s business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers’ compensation, commercial auto, general liability, property, professional liability and other coverage.