E. Ohman J or Asset Management AB Grows Position in The Hartford Insurance Group, Inc. $HIG

E. Ohman J or Asset Management AB boosted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 41.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,401 shares of the insurance provider’s stock after acquiring an additional 3,950 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in The Hartford Insurance Group were worth $1,776,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Pacific Financial purchased a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in The Hartford Insurance Group during the 4th quarter valued at $36,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG opened at $139.09 on Wednesday. The company has a market capitalization of $37.67 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 3.47 and a beta of 0.46. 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 12-month low of $120.33 and a 12-month high of $146.07. The business’s fifty day simple moving average is $136.16 and its 200-day simple moving average is $136.31.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the company posted $3.41 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.79 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. 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 payout ratio is currently 15.51%.

Wall Street Analyst Weigh In

HIG has been the topic of several research analyst reports. Royal Bank Of Canada upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on shares of 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. Bank of America upped their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $149.67.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

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.