150,565 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livförsäkringsbolaget Skandia acquired 150,565 shares of The Hartford Insurance Group, valued at approximately $20.03 million, giving it a 0.06% stake. Institutional investors collectively own 93.42% of HIG.
• The Hartford reported quarterly EPS of $3.42, beating estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion. Analysts have an average “Hold” rating and a $149.67 price target.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 1.7% yield, with payment scheduled for October 2 to shareholders of record as of September 1.

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 150,565 shares of the insurance provider's stock, valued at approximately $20,030,000. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.06% of The Hartford Insurance Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the first quarter worth $26,000. MidFirst Bank acquired a new stake in The Hartford Insurance Group during the 2nd quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group during the 3rd quarter worth $26,000. Navigoe LLC purchased a new stake in The Hartford Insurance Group during the 2nd quarter worth $27,000. Finally, Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group in the 1st quarter worth $29,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HIG. Weiss Ratings restated a "buy (b+)" rating on shares of The Hartford Insurance Group in a research note 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 research note on Wednesday, July 15th. Wells Fargo & Company reduced their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Cantor Fitzgerald lifted their price objective 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. Finally, Royal Bank Of Canada upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Hold" and an average price target of $149.67.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $138.51 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 Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The company has a fifty day moving average price of $138.49 and a two-hundred day moving average price of $136.58. The company has a market cap of $37.52 billion, a PE ratio of 8.95, a P/E/G ratio of 3.38 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted 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 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 the consensus estimate of $7.17 billion. During the same period last year, the firm posted $3.41 EPS. The company's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

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