Commerzbank Aktiengesellschaft FI Makes New $2 Million Investment in The Hartford Insurance Group, Inc. $HIG

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,074 shares of the insurance provider’s stock, valued at approximately $1,998,000.

A number of other hedge funds also recently bought and sold shares of the company. Phillips Wealth Planners LLC purchased a new position in shares of The Hartford Insurance Group during the second quarter worth approximately $211,000. Trust Co. of Vermont bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $60,000. Principle Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $235,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in The Hartford Insurance Group in the 2nd quarter worth $90,469,000. Finally, OneDigital Investment Advisors LLC purchased a new position in The Hartford Insurance Group in the 2nd quarter worth $1,384,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HIG. Barclays lowered their target price on 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. UBS Group dropped their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Wells Fargo & Company lowered their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. increased 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. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $136.73 on Tuesday. The firm has a market capitalization of $37.04 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 3.39 and a beta of 0.46. The stock has a fifty day moving average of $136.88 and a 200 day moving average of $136.53. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. 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 (NYSE:HIG) last issued its quarterly earnings data 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 the consensus estimate of $7.17 billion. During the same period in the previous year, the firm earned $3.41 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business 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 dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is currently 15.51%.

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.