National Pension Service Raises Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• National Pension Service increased its HIG stake by 4.9% in the second quarter, purchasing 26,060 additional shares and bringing its holdings to 554,720 shares valued at approximately $73.5 million.
• Institutional investors hold a substantial 93.42% of The Hartford’s outstanding stock, with several major funds—including Northwestern Mutual, California State Teachers Retirement System and BlackRock—reporting significant positions.
• The Hartford exceeded quarterly earnings expectations, reporting $3.42 EPS and $7.26 billion in revenue, while revenue rose 8.1% year over year. The company also declared a $0.60 quarterly dividend, and analysts’ consensus rating remains “Hold” with an average price target of $149.67.

National Pension Service lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 554,720 shares of the insurance provider's stock after purchasing an additional 26,060 shares during the quarter. National Pension Service owned about 0.20% of The Hartford Insurance Group worth $73,511,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. Northwestern Mutual Wealth Management Co. increased its stake 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 during the period. California State Teachers Retirement System lifted its holdings in The Hartford Insurance Group by 14,253.4% during the 2nd quarter. California State Teachers Retirement System now owns 54,248,255 shares of the insurance provider's stock worth $7,188,979,000 after buying an additional 53,870,308 shares in the last quarter. BlackRock Inc. purchased a new position in The Hartford Insurance Group in the 2nd quarter valued at approximately $4,067,052,000. State Street Corp grew its stake in shares of The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of The Hartford Insurance Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock worth $1,091,440,000 after acquiring an additional 34,274 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $136.33 on Friday. 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 Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. The firm's 50 day moving average is $139.32 and its two-hundred day moving average is $136.30. The firm has a market capitalization of $36.93 billion, a P/E ratio of 8.81, a P/E/G ratio of 2.40 and a beta of 0.45.

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 earnings per share for the quarter, topping 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 previous year, the firm earned $3.41 EPS. The company's revenue was up 8.1% compared to the same quarter last year. Research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio is currently 15.51%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of analyst reports. Cantor Fitzgerald increased their price target 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. Barclays cut their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Zacks Research upgraded shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $149.67.

About The Hartford Insurance Group

The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.

The company's business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers' compensation, commercial auto, general liability, property, professional liability and other coverage.

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