Northwestern Mutual Wealth Management Co. Purchases 8,064 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Northwestern Mutual Wealth Management increased its Hartford Insurance Group stake by 31% in the second quarter, adding 8,064 shares to hold 34,057 shares valued at approximately $4.5 million. Institutional investors collectively own 93.42% of HIG.
• Hartford reported quarterly earnings of $3.42 per share, exceeding the $3.16 consensus estimate, while revenue reached $7.26 billion, up 8.1% year over year.
• Analysts maintain a generally cautious outlook, with HIG carrying a consensus “Hold” rating and a $149.67 price target. The company also declared a quarterly dividend of $0.60 per share, representing a 1.7% annualized yield.

Northwestern Mutual Wealth Management Co. lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 31.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,057 shares of the insurance provider's stock after buying an additional 8,064 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in The Hartford Insurance Group were worth $4,513,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Pacific Financial purchased a new position in shares of The Hartford Insurance Group in the first quarter valued at about $26,000. MidFirst Bank bought a new stake in The Hartford Insurance Group during the 2nd quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. Navigoe LLC purchased a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $27,000. Finally, Phillip James Consulting Co. bought a new position in The Hartford Insurance Group in the 1st quarter worth approximately $29,000. Institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HIG. Zacks Research upgraded shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of The Hartford Insurance Group in a research note on Monday, August 24th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Piper Sandler reiterated a "neutral" rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Finally, Cantor Fitzgerald increased their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $149.67.

The Hartford Insurance Group Stock Up 2.1%

NYSE HIG opened at $140.15 on Friday. The stock has a 50 day moving average price of $139.06 and a 200-day moving average price of $136.46. 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 debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $37.96 billion, a P/E ratio of 9.06, a P/E/G ratio of 2.41 and a beta of 0.45.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.41 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

The Hartford Insurance Group Company 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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