EFG International AG Makes New $5.57 Million Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• EFG International AG acquired 42,004 shares of The Hartford Insurance Group in the second quarter, worth approximately $5.57 million. Institutional investors collectively own 93.42% of HIG’s outstanding stock.
• The Hartford exceeded quarterly expectations, reporting $3.42 in EPS versus the $3.16 consensus estimate and $7.26 billion in revenue, up 8.1% year over year.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.67.

EFG International AG acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,004 shares of the insurance provider's stock, valued at approximately $5,567,000.

A number of other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares in the last quarter. BlackRock Inc. purchased a new stake in The Hartford Insurance Group during the 2nd quarter worth $4,067,052,000. State Street Corp lifted its holdings in The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after buying an additional 55,983 shares in the last quarter. Geode Capital Management LLC boosted its position in The Hartford Insurance Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock valued at $1,091,440,000 after buying an additional 34,274 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after acquiring an additional 496,821 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $138.19 on Wednesday. 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 company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.46. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The business has a 50 day simple moving average of $137.90 and a 200-day simple moving average of $136.62.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted $3.41 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 15.51%.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on 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 lifted 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. Mizuho upped their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Zacks Research cut The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company decreased their price target on shares of 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. Seven equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $149.67.

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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