Northwestern Mutual Wealth Management Co. Buys 8,064 Shares of The Hartford Insurance Group, Inc. $HIG

Northwestern Mutual Wealth Management Co. boosted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 31.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,057 shares of the insurance provider’s stock after buying an additional 8,064 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in The Hartford Insurance Group were worth $4,513,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HIG. First Pacific Financial bought a new position in The Hartford Insurance Group during the first quarter valued at $26,000. MidFirst Bank bought a new position in The Hartford Insurance Group during the 2nd quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Navigoe LLC purchased a new stake in The Hartford Insurance Group in the 2nd quarter worth about $27,000. Finally, Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group in the 1st quarter worth about $29,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $140.15 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $37.96 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45. The firm has a 50-day moving average of $139.06 and a two-hundred day moving average of $136.46. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last issued its 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 net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the company posted $3.41 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HIG shares. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Mizuho increased their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Wells Fargo & Company dropped their price objective on 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. Finally, Royal Bank Of Canada upped their price objective on 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. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group has an average rating of “Hold” and an average 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.