Sanctuary Advisors LLC Purchases New Shares in The Hartford Insurance Group, Inc. $HIG

Sanctuary Advisors LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 29,981 shares of the insurance provider’s stock, valued at approximately $3,973,000.

A number of other large investors also recently added to or reduced their stakes in HIG. Northwestern Mutual Wealth Management Co. raised its holdings in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter worth approximately $4,067,052,000. Norges Bank acquired a new stake in shares of The Hartford Insurance Group in the fourth quarter worth approximately $611,724,000. Bank of New York Mellon Corp purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth approximately $337,907,000. Finally, Deutsche Bank AG purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth approximately $145,575,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $138.19 on Wednesday. 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 stock’s fifty day moving average is $137.90 and its two-hundred day moving average is $136.62. The firm has a market capitalization of $37.43 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 3.41 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 Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (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 business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the company earned $3.41 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HIG. Royal Bank Of Canada raised their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald raised their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average target price of $149.67.

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.