The Hartford Insurance Group, Inc. $HIG Stake Raised by Vise Technologies Inc.

Vise Technologies Inc. raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,490 shares of the insurance provider’s stock after buying an additional 12,843 shares during the quarter. Vise Technologies Inc.’s holdings in The Hartford Insurance Group were worth $11,072,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in The Hartford Insurance Group in the second quarter worth $4,067,052,000. Bank of America Corp DE purchased a new position in The Hartford Insurance Group during the 2nd quarter valued at $350,777,000. Legal & General Group Plc purchased a new position in The Hartford Insurance Group during the 2nd quarter valued at $346,877,000. Bank of New York Mellon Corp bought a new position in The Hartford Insurance Group in the 2nd quarter worth $337,907,000. Finally, Deutsche Bank AG bought a new position in The Hartford Insurance Group in the 2nd quarter worth $145,575,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIG has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Zacks Research raised The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Truist Financial began coverage on The Hartford Insurance Group in a research report on Monday, October 12th. They issued a “hold” rating and a $137.00 target price for the company. Finally, Cantor Fitzgerald raised their target price on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average target price of $145.25.

The Hartford Insurance Group Stock Up 0.1%

Shares of The Hartford Insurance Group stock opened at $132.69 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50-day moving average of $132.97 and a 200 day moving average of $135.36. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.89 and a beta of 0.48. The Hartford Insurance Group, Inc. has a 1 year low of $120.42 and a 1 year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 26th. The insurance provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The business had revenue of $7.22 billion for the quarter, compared to analyst estimates of $7.37 billion. During the same quarter in the previous year, the firm posted $3.78 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 14.53%.

The Hartford Insurance Group Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.