Nykredit A S Invests $11.45 Million in The Hartford Insurance Group, Inc. $HIG

Key Points

• Nykredit A/S purchased 86,368 shares of The Hartford Insurance Group in the second quarter, valued at approximately $11.45 million. Institutional investors collectively own 93.42% of the company.
• 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.
• Analysts maintain a consensus “Hold” rating with an average price target of $149.07, while the company declared a $0.60 quarterly dividend, equivalent to a 1.8% annual yield.

Nykredit A S purchased 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 & Exchange Commission. The firm purchased 86,368 shares of the insurance provider's stock, valued at approximately $11,445,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Pacific Financial bought a new position in The Hartford Insurance Group during the 1st quarter worth approximately $26,000. MidFirst Bank bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at approximately $27,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $29,000. Finally, Clearstead Trust LLC bought a new position in The Hartford Insurance Group during the second quarter worth $29,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Royal Bank Of Canada increased their price objective on shares of 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. Zacks Research raised shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $149.07.

The Hartford Insurance Group Trading Down 0.0%

The Hartford Insurance Group stock opened at $131.84 on Monday. The firm has a 50-day moving average price of $138.94 and a two-hundred day moving average price of $136.05. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The firm has a market capitalization of $35.71 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 2.31 and a beta of 0.45. 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 (NYSE:HIG - Get Free Report) last issued 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 Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business's revenue was up 8.1% on a year-over-year basis. Sell-side 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 paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is presently 15.51%.

The Hartford Insurance Group Company Profile

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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