Commerce Bank purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,117 shares of the insurance provider's stock, valued at approximately $1,208,000.
A number of other large investors also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new position in The Hartford Insurance Group during the first quarter valued at approximately $207,000. NewEdge Advisors LLC increased its stake in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock worth $7,122,000 after purchasing an additional 886 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after purchasing an additional 6,285 shares during the period. HUB Investment Partners LLC grew its holdings in The Hartford Insurance Group by 9.8% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
HIG has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Zacks Research lowered shares of The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Royal Bank Of Canada lifted 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 report on Monday, July 27th. Piper Sandler reiterated a "neutral" rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $149.67.
Read Our Latest Report on HIG
The Hartford Insurance Group Price Performance
Shares of HIG stock opened at $138.19 on Wednesday. The company has a market cap of $37.43 billion, a P/E ratio of 8.93, a P/E/G ratio of 3.41 and a beta of 0.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $137.90 and a 200 day simple moving average of $136.62. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The firm's revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The firm also recently disclosed 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 dividend payout ratio (DPR) is 15.51%.
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.
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