The Hartford Insurance Group, Inc. $HIG Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 446,491 shares of the insurance provider’s stock after buying an additional 37,673 shares during the period. NewEdge Advisors LLC’s holdings in The Hartford Insurance Group were worth $59,169,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares in the last quarter. California State Teachers Retirement System increased its position in shares of The Hartford Insurance Group by 14,253.4% during the second quarter. California State Teachers Retirement System now owns 54,248,255 shares of the insurance provider’s stock worth $7,188,979,000 after acquiring an additional 53,870,308 shares during the period. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at $4,067,052,000. Norges Bank purchased a new position in The Hartford Insurance Group in the fourth quarter valued at $611,724,000. Finally, Bank of America Corp DE purchased a new position in The Hartford Insurance Group in the second quarter valued at $350,777,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on HIG. Keefe, Bruyette & Woods increased 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. Piper Sandler reissued a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Mizuho raised their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Cantor Fitzgerald lifted 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 research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Trading Down 1.9%

HIG opened at $135.71 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. The business’s 50 day moving average is $139.31 and its two-hundred day moving average is $136.36. The firm has a market cap of $36.76 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.45.

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, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.41 earnings per share. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS 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. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is currently 15.51%.

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.