Nykredit A S Acquires New Shares in The Hartford Insurance Group, Inc. $HIG

Key Points

• Nykredit A/S acquired 96,963 shares of The Hartford Insurance Group during the second quarter, valued at approximately $12.85 million. Institutional investors and hedge funds collectively own 93.42% of HIG.
• The Hartford reported quarterly earnings of $3.42 per share, exceeding estimates of $3.16, while revenue reached $7.26 billion, up 8.1% year over year.
• The company declared a quarterly dividend of $0.60 per share, equivalent to an annualized $2.40 payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.67.

Nykredit A S acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,963 shares of the insurance provider's stock, valued at approximately $12,850,000.

Several other hedge funds have also recently bought and sold shares of the business. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $26,000. First Pacific Financial bought a new stake in The Hartford Insurance Group during the first quarter worth approximately $26,000. MidFirst Bank acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $26,000. Navigoe LLC acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $27,000. Finally, Sunbelt Securities Inc. bought a new position in shares of The Hartford Insurance Group in the third quarter valued at approximately $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 1.3%

Shares of HIG stock opened at $138.19 on Friday. The firm has a market capitalization of $37.43 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 2.46 and a beta of 0.45. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The firm's fifty day simple moving average is $139.15 and its 200 day simple moving average is $136.47. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business's revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 EPS. As a group, sell-side analysts predict 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 announced 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 of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is 15.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HIG. Wells Fargo & Company decreased their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Barclays dropped 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 report on Friday, June 12th. Royal Bank Of Canada raised their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. Mizuho lifted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Finally, Zacks Research raised The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $149.67.

About The Hartford Insurance Group

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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