1,071,717 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,071,717 shares of the insurance provider’s stock, valued at approximately $142,024,000.

Several other institutional investors also recently bought and sold shares of HIG. Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 73,835,976 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at $4,067,052,000. Norges Bank purchased a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at $611,724,000. Legal & General Group Plc acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth $346,877,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth $337,907,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. 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 report on Tuesday, July 28th. Zacks Research lowered The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Piper Sandler restated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of The Hartford Insurance Group in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $139.95 on Thursday. The stock has a 50-day simple moving average of $138.10 and a two-hundred day simple moving average of $136.60. The firm has a market capitalization of $37.91 billion, a P/E ratio of 9.05, a PEG ratio of 3.40 and a beta of 0.46. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 EPS. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 15.51%.

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.