Public Employees Retirement System of Ohio bought 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 13F filing with the SEC. The institutional investor bought 93,841 shares of the insurance provider's stock, valued at approximately $12,436,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Pacific Financial bought a new position in The Hartford Insurance Group in the 1st quarter worth approximately $26,000. MidFirst Bank acquired a new stake in shares of The Hartford Insurance Group in the second quarter worth $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group during the third quarter worth $26,000. Navigoe LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter valued at $27,000. Finally, Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 93.42% of the company's stock.
The Hartford Insurance Group Stock Down 0.0%
Shares of HIG opened at $138.51 on Monday. 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 company has a 50-day moving average price of $138.49 and a two-hundred day moving average price of $136.56. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 3.40 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given 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 is 15.51%.
Analyst Upgrades and Downgrades
HIG has been the topic of several research analyst reports. Mizuho raised their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Royal Bank Of Canada lifted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $149.67.
Get Our Latest Research Report on The Hartford Insurance Group
About The Hartford Insurance Group
(
Free Report)
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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