United Capital Financial Advisors LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

United Capital Financial Advisors LLC bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,295 shares of the insurance provider’s stock, valued at approximately $1,497,000.

A number of other institutional investors have also recently added to or reduced their stakes in HIG. First Pacific Financial purchased a new position in The Hartford Insurance Group in the first quarter valued at about $26,000. MidFirst Bank purchased a new stake in shares of The Hartford Insurance Group in the second quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth about $26,000. Navigoe LLC acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $27,000. Finally, Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HIG shares. Wells Fargo & Company reduced their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Royal Bank Of Canada lifted 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 note on Monday, July 27th. Piper Sandler reissued a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Finally, Barclays lowered their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $138.51 on Friday. The stock has a market capitalization of $37.52 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 3.40 and a beta of 0.46. The business’s fifty day moving average price is $138.49 and its 200 day moving average price is $136.58. 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 Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month 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 earnings per share 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 company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the company earned $3.41 earnings per share. 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 year.

The Hartford Insurance Group Announces Dividend

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

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.