Mizuho Markets Cayman LP Makes New $16.56 Million Investment in The Hartford Insurance Group, Inc. $HIG

Mizuho Markets Cayman LP bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 120,170 shares of the insurance provider’s stock, valued at approximately $16,559,000. The Hartford Insurance Group accounts for approximately 0.8% of Mizuho Markets Cayman LP’s holdings, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC acquired a new position in shares of The Hartford Insurance Group in the first quarter worth about $207,000. NewEdge Advisors LLC lifted its position in shares of The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after purchasing an additional 6,285 shares in the last quarter. HUB Investment Partners LLC lifted its position in shares of The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after purchasing an additional 39,220 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wells Fargo & Company increased their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Mizuho increased their price target on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Roth Mkm increased their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.31.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $136.15 on Friday. The firm has a market cap of $37.32 billion, a PE ratio of 9.57, a PEG ratio of 2.45 and a beta of 0.50. The firm’s 50 day moving average price is $135.68 and its 200 day moving average price is $135.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 EPS. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Insiders Place Their Bets

In related news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.