B. Metzler seel. Sohn & Co. AG bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,020 shares of the insurance provider's stock, valued at approximately $2,521,000.
Several other institutional investors and hedge funds have also modified their holdings of HIG. Northwestern Mutual Wealth Management Co. lifted its position in The Hartford Insurance Group by 286,241.4% during 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 buying an additional 73,835,976 shares in the last quarter. BlackRock Inc. acquired a new position in shares of The Hartford Insurance Group during the second quarter worth approximately $4,067,052,000. Norges Bank bought a new stake in shares of The Hartford Insurance Group during the fourth quarter valued at approximately $611,724,000. Bank of New York Mellon Corp bought a new stake in shares of The Hartford Insurance Group during the second quarter valued at approximately $337,907,000. Finally, Deutsche Bank AG acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $145,575,000. 93.42% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on HIG shares. Mizuho boosted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. UBS Group decreased their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Barclays lowered their target price 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. Cantor Fitzgerald boosted their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company cut their price target 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. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, The Hartford Insurance Group has a consensus rating of "Hold" and a consensus target price of $149.67.
Check Out Our Latest Analysis on The Hartford Insurance Group
The Hartford Insurance Group Trading Down 0.6%
Shares of NYSE HIG opened at $136.30 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The firm has a market capitalization of $36.92 billion, a P/E ratio of 8.81, a P/E/G ratio of 3.34 and a beta of 0.46. 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 company's 50 day simple moving average is $137.56 and its 200 day simple moving average is $136.64.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 EPS. On average, analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.
The Hartford Insurance Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group's payout ratio is 15.51%.
Insider Activity at The Hartford Insurance Group
In related news, President Adin M. Tooker sold 8,895 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.
About The Hartford Insurance Group
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).
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