iSAM Funds UK Ltd acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,400 shares of the insurance provider's stock, valued at approximately $2,571,000. The Hartford Insurance Group makes up about 1.8% of iSAM Funds UK Ltd's investment portfolio, making the stock its 4th biggest holding.
A number of other large investors have also modified their holdings of HIG. First Pacific Financial bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $26,000. MidFirst Bank acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the third quarter valued at $26,000. Navigoe LLC bought a new stake in The Hartford Insurance Group in the second quarter valued at $27,000. Finally, Phillip James Consulting Co. bought a new position in shares of The Hartford Insurance Group in the first quarter valued at approximately $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. Barclays lowered their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research report on Friday, June 12th. Weiss Ratings reissued a "buy (b+)" rating on shares of The Hartford Insurance Group in a report on Monday, August 24th. Cantor Fitzgerald boosted their price objective on shares of 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. Keefe, Bruyette & Woods upped 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. Finally, Mizuho boosted their target price on 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. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $149.67.
Check Out Our Latest Research Report on The Hartford Insurance Group
The Hartford Insurance Group Trading Up 0.1%
HIG stock opened at $137.25 on Thursday. The stock has a market cap of $37.18 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45. 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 Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The company has a fifty day moving average price of $138.87 and a two-hundred day moving average price of $136.47.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $7.26 billion during the quarter, compared to analysts' expectations of $7.17 billion. During the same quarter in the previous year, the business posted $3.41 earnings per share. The Hartford Insurance Group's quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.
The Hartford Insurance Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 15.51%.
The Hartford Insurance Group Profile
(
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.
Further Reading
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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