Nykredit A S Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Nykredit A S purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 96,963 shares of the insurance provider’s stock, valued at approximately $12,850,000.

A number of other hedge funds also recently made changes to their positions in the business. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. First Pacific Financial acquired a new position in The Hartford Insurance Group in the first quarter worth about $26,000. MidFirst Bank bought a new position in The Hartford Insurance Group during the second quarter worth about $26,000. Navigoe LLC bought a new position in The Hartford Insurance Group during the second quarter worth about $27,000. Finally, Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 1.3%

NYSE HIG opened at $138.19 on Friday. The stock’s 50 day simple moving average is $139.15 and its 200 day simple moving average is $136.47. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The firm has a market cap of $37.43 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.46 and a beta of 0.45. 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 (NYSE:HIG) last posted its quarterly earnings data 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 analyst estimates of $7.17 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share 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. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIG. Piper Sandler reiterated a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods upped their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday, August 24th. Finally, Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Company 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.