MASTERINVEST Kapitalanlage GmbH Makes New $960,000 Investment in The Hartford Insurance Group, Inc. $HIG

MASTERINVEST Kapitalanlage GmbH purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel reports. The firm purchased 7,244 shares of the insurance provider’s stock, valued at approximately $960,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new position in The Hartford Insurance Group during the 1st quarter worth $207,000. NewEdge Advisors LLC raised its stake in shares of The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after purchasing an additional 6,285 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $138.51 on Friday. The business’s 50-day moving average price is $138.49 and its two-hundred day moving average price is $136.58. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The company has a market capitalization of $37.52 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 3.38 and a beta of 0.46. 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 issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 15.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HIG. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Weiss Ratings restated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Mizuho boosted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald upped their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company 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. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average price target of $149.67.

About The Hartford Insurance Group

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.