OMERS ADMINISTRATION Corp Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• OMERS Administration Corp. purchased 15,123 shares of The Hartford Insurance Group in the second quarter, valued at approximately $2 million. Institutional investors collectively own 93.42% of HIG’s outstanding stock.
• 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.
• The company declared a quarterly dividend of $0.60 per share, or $2.40 annually, representing a 1.7% yield. Analysts’ consensus rating is “Hold,” with an average price target of $149.67.

OMERS ADMINISTRATION Corp purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,123 shares of the insurance provider's stock, valued at approximately $2,004,000.

Other institutional investors also recently modified their holdings of the company. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $26,000. MidFirst Bank bought a new position in shares of The Hartford Insurance Group during the second quarter worth about $26,000. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group during the third quarter worth about $26,000. Navigoe LLC acquired a new position in shares of The Hartford Insurance Group in the second quarter worth approximately $27,000. Finally, Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group in the first quarter worth approximately $29,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $139.95 on Thursday. The stock has a market capitalization of $37.91 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.40 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The stock's 50 day moving average price is $138.10 and its two-hundred day moving average price is $136.60. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The company 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 company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on HIG. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a research report on Tuesday, July 28th. Mizuho upped their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Weiss Ratings reiterated a "buy (b+)" rating on shares of The Hartford Insurance Group in a research report on Monday. Barclays lowered their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Finally, Piper Sandler restated a "neutral" rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $149.67.

The Hartford Insurance Group 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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