Canada Pension Plan Investment Board Invests $66.69 Million in The Hartford Insurance Group, Inc. $HIG

Canada Pension Plan Investment Board bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, Holdings Channel.com reports. The firm bought 503,278 shares of the insurance provider’s stock, valued at approximately $66,694,000.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in The Hartford Insurance Group during the 1st quarter worth approximately $207,000. NewEdge Advisors LLC boosted its position in The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after buying an additional 886 shares in the last quarter. Treasurer of the State of North Carolina grew 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 worth $21,297,000 after buying 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% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after buying an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased 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 worth $24,488,000 after buying an additional 39,220 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

HIG stock opened at $137.77 on Friday. The company has a market capitalization of $37.32 billion, a P/E ratio of 8.91, a PEG ratio of 3.44 and a beta of 0.46. The company has a fifty day moving average price of $138.29 and a 200-day moving average price of $136.57. 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 Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07.

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, topping the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 earnings per share. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is 15.51%.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of research reports. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald boosted their price objective on 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. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. 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 report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.67.

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.