87,845 Shares in The Hartford Insurance Group, Inc. $HIG Bought by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 87,845 shares of the insurance provider’s stock, valued at approximately $11,641,000.

Several other hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. BlackRock Inc. purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at about $4,067,052,000. Norges Bank purchased a new position in shares of The Hartford Insurance Group during the 4th quarter valued at about $611,724,000. Bank of New York Mellon Corp bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at approximately $337,907,000. Finally, Deutsche Bank AG bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at approximately $145,575,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $136.30 on Friday. The stock has a 50-day moving average price of $137.56 and a 200 day moving average price of $136.64. The stock has a market capitalization of $36.92 billion, a P/E ratio of 8.81, a P/E/G ratio of 3.34 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 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) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm earned $3.41 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date 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 (DPR) is presently 15.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HIG shares. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. UBS Group dropped their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Barclays reduced their price objective 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. Royal Bank Of Canada raised their price objective on shares of 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. Finally, Mizuho lifted their target price 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. Seven 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. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Hold” and an average price target of $149.67.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

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.