OMERS ADMINISTRATION Corp Takes Position in The Hartford Insurance Group, Inc. $HIG

OMERS ADMINISTRATION Corp acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 15,123 shares of the insurance provider’s stock, valued at approximately $2,004,000.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after buying an additional 73,835,976 shares during the last quarter. BlackRock Inc. purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $4,067,052,000. Norges Bank purchased a new position in shares of The Hartford Insurance Group during the 4th quarter valued at $611,724,000. Bank of New York Mellon Corp bought a new position in shares of The Hartford Insurance Group during the 2nd quarter worth $337,907,000. Finally, Deutsche Bank AG bought a new position in shares of The Hartford Insurance Group during the 2nd quarter worth $145,575,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HIG. Weiss Ratings restated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday. Royal Bank Of Canada lifted their target price 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. Barclays reduced their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Wells Fargo & Company decreased their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Finally, Mizuho increased their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Stock Up 1.3%

Shares of NYSE HIG opened at $139.95 on Thursday. 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 business has a 50-day moving average of $138.10 and a 200-day moving average of $136.60. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 9.05, a PEG 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 Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share 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 last year, the firm posted $3.41 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share 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. Stockholders 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 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

The Hartford Insurance Group Company 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.