Susquehanna Fundamental Investments LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

Susquehanna Fundamental Investments LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 309,479 shares of the insurance provider’s stock, valued at approximately $41,012,000.

A number of other hedge funds also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $4,131,000. Abacus Wealth Partners LLC purchased a new position in The Hartford Insurance Group in the fourth quarter worth $1,971,000. SEB Asset Management AB acquired a new position in shares of The Hartford Insurance Group during the first quarter worth $69,310,000. Strs Ohio increased its position in shares of The Hartford Insurance Group by 4.7% during the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after purchasing an additional 8,890 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension lifted its holdings in shares of The Hartford Insurance Group by 4.6% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after purchasing an additional 8,250 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

Shares of The Hartford Insurance Group stock opened at $138.51 on Monday. The firm has a market cap of $37.52 billion, a PE ratio of 8.95, a P/E/G ratio of 3.40 and a beta of 0.46. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $138.49 and a 200 day moving average price of $136.56.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate 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 Hartford Insurance Group’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. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday, August 24th. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Mizuho lifted their price target 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. Cantor Fitzgerald upped 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. Finally, Wells Fargo & Company dropped their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average 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.