Edmond DE Rothschild Holding S.A. Takes $505,000 Position in The Hartford Insurance Group, Inc. $HIG

Edmond DE Rothschild Holding S.A. purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, Holdings Channel.com reports. The fund purchased 3,807 shares of the insurance provider’s stock, valued at approximately $505,000.

Other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in The Hartford Insurance Group in the 1st quarter valued at $4,131,000. Abacus Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group during the 4th quarter worth $1,971,000. SEB Asset Management AB purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $69,310,000. Strs Ohio boosted its holdings in shares of The Hartford Insurance Group by 4.7% in the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after buying an additional 8,890 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension grew its position in The Hartford Insurance Group by 4.6% during the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after buying an additional 8,250 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Trading Down 0.3%

Shares of The Hartford Insurance Group stock opened at $137.17 on Friday. 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 stock has a market capitalization of $37.16 billion, a P/E ratio of 8.87, a P/E/G ratio of 3.38 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The stock’s 50-day simple moving average is $137.43 and its 200 day simple moving average is $136.64.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (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 net margin of 15.00% and a return on equity of 21.66%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.41 earnings per share. As a group, research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. 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 payout ratio is presently 15.51%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was 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 $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Piper Sandler reissued a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. UBS Group decreased their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $149.67.

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.