Equity Investment Corp Buys New Holdings in The Hartford Insurance Group, Inc. $HIG

Equity Investment Corp bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 569,715 shares of the insurance provider’s stock, valued at approximately $75,499,000.

Several other large investors have also modified their holdings of the stock. First Pacific Financial purchased a new position in shares of The Hartford Insurance Group during the first quarter worth about $26,000. MidFirst Bank acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group during the first quarter worth $29,000. Finally, Clearstead Trust LLC acquired a new position in shares of The Hartford Insurance Group in the second quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $138.89 on Wednesday. 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, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The business has a 50 day simple moving average of $137.08 and a 200 day simple moving average of $136.59. The firm has a market capitalization of $37.62 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 3.39 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $3.41 earnings per share. On average, equities 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 firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.

Analyst Ratings Changes

HIG has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. Cantor Fitzgerald boosted their target price on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their target price on 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, Mizuho increased their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $149.67.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

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.