Meiji Yasuda Asset Management Co Ltd. Acquires Shares of 6,023 The Hartford Insurance Group, Inc. $HIG

Meiji Yasuda Asset Management Co Ltd. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, Holdings Channel reports. The institutional investor bought 6,023 shares of the insurance provider’s stock, valued at approximately $798,000.

Other institutional investors have also recently made changes to their positions in the company. Haven Private LLC grew its position in The Hartford Insurance Group by 1.1% in the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock valued at $930,000 after acquiring an additional 71 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of The Hartford Insurance Group by 0.4% during the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after purchasing an additional 79 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of The Hartford Insurance Group by 3.8% during the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 82 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC increased its holdings in The Hartford Insurance Group by 0.7% in the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

HIG opened at $138.19 on Wednesday. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The stock has a market cap of $37.43 billion, a P/E ratio of 8.93, a P/E/G ratio of 3.41 and a beta of 0.46. The stock’s 50 day simple moving average is $137.90 and its 200 day simple moving average is $136.62. 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 released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date of this dividend 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 currently 15.51%.

Analyst Ratings Changes

A number of analysts have weighed in on HIG shares. Zacks Research cut The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Piper Sandler reiterated a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Mizuho raised their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Finally, Cantor Fitzgerald lifted 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 report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average price target of $149.67.

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.