44,888 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management acquired 44,888 shares of The Hartford Insurance Group valued at approximately $5.99 million. Institutional investors and hedge funds collectively own 93.42% of HIG.
• The Hartford exceeded quarterly expectations, reporting $3.42 in earnings per share versus the $3.16 consensus estimate, while revenue rose 8.1% year over year to $7.26 billion.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a $149.67 price target. The company also declared a quarterly dividend of $0.60 per share, representing a 1.7% yield.

Rakuten Investment Management Inc. purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,888 shares of the insurance provider's stock, valued at approximately $5,992,000.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on HIG shares. 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 report on Monday, July 20th. Royal Bank Of Canada lifted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a "market perform" rating in a report on Tuesday, July 28th. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, July 27th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $149.67.

The Hartford Insurance Group Trading Up 0.5%

Shares of HIG opened at $138.51 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. 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 firm has a market capitalization of $37.52 billion, a P/E ratio of 8.95, a PEG ratio of 3.40 and a beta of 0.46. The firm's 50-day moving average is $138.49 and its two-hundred day moving average is $136.58.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the company earned $3.41 EPS. The company's quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued 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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