NEOS Investment Management LLC Acquires 5,720 Shares of The Hartford Insurance Group, Inc. $HIG

NEOS Investment Management LLC raised its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,347 shares of the insurance provider’s stock after purchasing an additional 5,720 shares during the quarter. NEOS Investment Management LLC’s holdings in The Hartford Insurance Group were worth $6,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth about $4,067,052,000. State Street Corp lifted its stake in shares of The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after buying an additional 55,983 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after buying an additional 34,274 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after buying an additional 496,821 shares during the period. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HIG. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Mizuho boosted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Wells Fargo & Company decreased 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. Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $138.19 on Monday. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. 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 firm’s 50-day simple moving average is $139.15 and its 200 day simple moving average is $136.44. The firm has a market cap of $37.43 billion, a price-to-earnings ratio of 8.93, a P/E/G 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm 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 firm posted $3.41 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is 15.51%.

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.