Philadelphia Financial Management of San Francisco LLC Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 118,700 shares of the insurance provider’s stock, valued at approximately $15,730,124,000. The Hartford Insurance Group accounts for about 3.2% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other institutional investors have also modified their holdings of HIG. First Pacific Financial acquired a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $26,000. MidFirst Bank acquired a new stake in shares of The Hartford Insurance Group during the second quarter worth $26,000. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter valued at $26,000. Navigoe LLC bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at $27,000. Finally, Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group in the 1st quarter worth $29,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 1.3%

Shares of NYSE:HIG opened at $139.95 on Thursday. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The company has a market capitalization of $37.91 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 3.40 and a beta of 0.46. The business has a fifty day moving average price of $138.10 and a two-hundred day moving average price of $136.60. 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 issued its quarterly 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 company had revenue of $7.26 billion for 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 firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 EPS. Analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on HIG. Keefe, Bruyette & Woods increased their target price 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. Barclays reduced their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Wells Fargo & Company dropped their target price 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. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday. Finally, Cantor Fitzgerald raised their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.