Emerald Investment Advisers LLC Purchases Shares of 63,558 The Hartford Insurance Group, Inc. $HIG

Emerald Investment Advisers LLC purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel reports. The fund purchased 63,558 shares of the insurance provider’s stock, valued at approximately $8,423,000.

A number of other large investors also recently modified their holdings of HIG. Northwestern Mutual Wealth Management Co. grew its holdings in shares of The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares in the last quarter. BlackRock Inc. bought a new stake in The Hartford Insurance Group during the second quarter worth about $4,067,052,000. Norges Bank acquired a new position in The Hartford Insurance Group during the fourth quarter valued at approximately $611,724,000. Bank of New York Mellon Corp acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $337,907,000. Finally, Deutsche Bank AG bought a new position in The Hartford Insurance Group in the second quarter valued at approximately $145,575,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HIG shares. Royal Bank Of Canada boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Wells Fargo & Company cut their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Barclays decreased their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Cantor Fitzgerald upped their price target on shares of 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, Mizuho increased their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $136.30 on Friday. 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 stock’s 50 day moving average price is $137.56 and its two-hundred day moving average price is $136.64. The firm has a market capitalization of $36.92 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 3.37 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction 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 completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

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.