Livforsakringsbolaget Skandia Omsesidigt Makes New $20.03 Million Investment in The Hartford Insurance Group, Inc. $HIG

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel reports. The firm purchased 150,565 shares of the insurance provider’s stock, valued at approximately $20,030,000.

A number of other hedge funds also recently made changes to their positions in the business. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. First Pacific Financial acquired a new stake in The Hartford Insurance Group in the first quarter worth approximately $26,000. MidFirst Bank acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $26,000. Navigoe LLC acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $27,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth $29,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HIG. Cantor Fitzgerald raised their target price 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. JPMorgan Chase & Co. upped 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. Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Barclays dropped their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Finally, Mizuho increased 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 research note on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $138.51 on Friday. The company has a 50-day moving average of $138.49 and a two-hundred day moving average of $136.58. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 3.38 and a beta of 0.46. 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, Inc. has a one year low of $120.33 and a one year high of $146.07.

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, 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 business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the business earned $3.41 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current 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 dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. 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.