AlphaGrep UK Ltd Invests $972,000 in The Hartford Insurance Group, Inc. $HIG

Key Points

• AlphaGrep UK Ltd. acquired 7,334 shares of The Hartford Insurance Group valued at approximately $972,000 during the second quarter. Institutional investors collectively own 93.42% of HIG.
• The Hartford reported quarterly EPS of $3.42, exceeding estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $149.67. The company also declared a quarterly dividend of $0.60 per share, representing a 1.7% annualized yield.

AlphaGrep UK Ltd acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,334 shares of the insurance provider's stock, valued at approximately $972,000.

A number of other hedge funds have also recently made changes to their positions in HIG. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth about $26,000. First Pacific Financial acquired a new stake in The Hartford Insurance Group during the 1st quarter worth $26,000. MidFirst Bank purchased a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $26,000. Navigoe LLC purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter worth $27,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on HIG. Royal Bank Of Canada upped their target price 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. Weiss Ratings reissued a "buy (b+)" rating on shares of The Hartford Insurance Group in a research report on Monday, August 24th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Mizuho upped their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Finally, 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 report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $149.67.

The Hartford Insurance Group Stock Down 1.3%

HIG opened at $138.19 on Friday. 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 company has a market cap of $37.43 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.46 and a beta of 0.45. The firm has a 50 day moving average price of $139.15 and a 200 day moving average price of $136.47. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.

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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the firm earned $3.41 EPS. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date 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 payout ratio is currently 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.

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