Susquehanna Fundamental Investments LLC Invests $41.01 Million in The Hartford Insurance Group, Inc. $HIG

Susquehanna Fundamental Investments LLC bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 309,479 shares of the insurance provider’s stock, valued at approximately $41,012,000. Susquehanna Fundamental Investments LLC owned approximately 0.11% of The Hartford Insurance Group at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Pacific Financial purchased a new stake in The Hartford Insurance Group during the 1st quarter valued at $26,000. MidFirst Bank bought a new position in The Hartford Insurance Group during the second quarter valued at $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group during the third quarter valued at $26,000. Navigoe LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at $27,000. Finally, Phillip James Consulting Co. bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Down 0.0%

HIG stock opened at $138.51 on Monday. The company has a market capitalization of $37.52 billion, a PE ratio of 8.95, a P/E/G ratio of 3.40 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The firm’s 50-day moving average is $138.49 and its 200 day moving average is $136.56. 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 data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.41 EPS. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued 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 presently 15.51%.

Analysts Set New Price Targets

HIG has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Piper Sandler reissued a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. 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 research note on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday, August 24th. Finally, Cantor Fitzgerald increased their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group 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.