Strategic Global Advisors LLC Invests $1.75 Million in The Hartford Insurance Group, Inc. $HIG

Key Points

• Strategic Global Advisors LLC purchased 13,176 shares of The Hartford Insurance Group, valued at approximately $1.75 million. Institutional investors collectively own 93.42% of HIG’s outstanding stock.
• The Hartford exceeded quarterly earnings expectations, reporting $3.42 in EPS versus the $3.16 consensus estimate, while revenue rose 8.1% year over year to $7.26 billion.
• The company declared a quarterly dividend of $0.60 per share, equal to $2.40 annually and a 1.7% yield. Analysts have a consensus “Hold” rating and an average price target of $149.67.

Strategic Global Advisors LLC purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,176 shares of the insurance provider's stock, valued at approximately $1,746,000.

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

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $139.95 on Thursday. The company has a market cap 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 business has a 50 day moving average price of $138.10 and a 200 day moving average price of $136.60. 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, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.

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 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 company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the business posted $3.41 EPS. The company's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Analyst Ratings Changes

HIG has been the subject of several analyst reports. Weiss Ratings restated a "buy (b+)" rating on shares of The Hartford Insurance Group in a report on Monday. Barclays lowered their price target on 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. Piper Sandler reissued a "neutral" rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Hold" and a consensus price target 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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