Van ECK Associates Corp Cuts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Van ECK Associates Corp trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,402 shares of the insurance provider’s stock after selling 5,051 shares during the quarter. Van ECK Associates Corp’s holdings in The Hartford Insurance Group were worth $6,149,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. First Pacific Financial acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $26,000. MidFirst Bank acquired a new stake in shares of The Hartford Insurance Group during the second quarter valued at about $26,000. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group in the third quarter valued at approximately $26,000. Navigoe LLC purchased a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at $27,000. Finally, Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group during the first quarter worth about $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Up 0.1%

Shares of The Hartford Insurance Group stock opened at $137.25 on Thursday. The company has a 50-day moving average of $138.87 and a two-hundred day moving average of $136.47. The stock has a market cap of $37.18 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. 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 (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 earnings per share. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. 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 currently 15.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cantor Fitzgerald upped their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Royal Bank Of Canada raised their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday, August 24th. 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 research report on Monday, July 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price objective (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 assigned a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus target price 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.