Public Employees Retirement System of Ohio Purchases New Position in The Hartford Insurance Group, Inc. $HIG

Public Employees Retirement System of Ohio purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, HoldingsChannel.com reports. The firm purchased 93,841 shares of the insurance provider’s stock, valued at approximately $12,436,000.

Several other large investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in The Hartford Insurance Group during the 1st quarter worth $4,131,000. Abacus Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at $1,971,000. SEB Asset Management AB bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $69,310,000. Strs Ohio raised its position in shares of The Hartford Insurance Group by 4.7% during the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after acquiring an additional 8,890 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension lifted its stake in shares of The Hartford Insurance Group by 4.6% during the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after acquiring an additional 8,250 shares during the period. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Mizuho upped 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 report on Thursday, July 9th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Piper Sandler reissued a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Stock Down 0.0%

Shares of The Hartford Insurance Group stock opened at $138.51 on Monday. 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 12 month low of $120.33 and a 12 month high of $146.07. The business has a fifty day simple moving average of $138.49 and a 200 day simple moving average of $136.56. The stock has a market cap of $37.52 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 3.40 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results 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 for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm posted $3.41 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. 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 declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 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.