Commerzbank Aktiengesellschaft FI Purchases New Position in The Hartford Insurance Group, Inc. $HIG

Commerzbank Aktiengesellschaft FI bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, HoldingsChannel reports. The firm bought 15,074 shares of the insurance provider’s stock, valued at approximately $1,998,000.

Several other hedge funds have also recently modified their holdings of HIG. Ashton Thomas Private Wealth LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at $207,000. NewEdge Advisors LLC lifted its stake in The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after acquiring an additional 886 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of The Hartford Insurance Group by 3.9% during the 2nd 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 acquiring an additional 6,285 shares during the last quarter. HUB Investment Partners LLC grew its stake in shares of 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 acquiring an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $136.73 on Tuesday. The business’s fifty day moving average is $136.88 and its 200 day moving average is $136.53. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $37.04 billion, a PE ratio of 8.84, 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, topping analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business posted $3.41 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HIG. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Piper Sandler reissued a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell 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.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

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.