Man Group plc Acquires New Holdings in The Hartford Insurance Group, Inc. $HIG

Man Group plc bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 631,428 shares of the insurance provider’s stock, valued at approximately $83,677,000.

Several other hedge funds have also recently bought and sold shares of HIG. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $207,000. NewEdge Advisors LLC lifted its position in The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after acquiring an additional 886 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after acquiring an additional 6,285 shares in the last quarter. HUB Investment Partners LLC boosted its stake in The Hartford Insurance Group by 9.8% in the 2nd 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 during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Hartford Insurance Group by 25.5% in the 2nd 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 during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HIG has been the topic of several recent research reports. Mizuho lifted their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Barclays decreased their price objective on 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. Piper Sandler reissued a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their target price on 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. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Down 0.6%

Shares of HIG stock opened at $138.19 on Wednesday. The firm’s fifty day moving average price is $137.90 and its two-hundred day moving average price is $136.62. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The firm has a market capitalization of $37.43 billion, a P/E ratio of 8.93, a PEG ratio of 3.41 and a beta of 0.46.

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 company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 EPS. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. 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%.

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.