Empowered Funds LLC Takes $6.08 Million Position in The Hartford Insurance Group, Inc. $HIG

Empowered Funds LLC acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 45,840 shares of the insurance provider’s stock, valued at approximately $6,075,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. United Capital Financial Advisors LLC acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at about $1,497,000. Equitable Holdings Inc. acquired a new position in The Hartford Insurance Group during the second quarter worth approximately $626,000. Jefferies Financial Group Inc. acquired a new position in The Hartford Insurance Group during the second quarter worth approximately $1,237,000. Public Employees Retirement System of Ohio bought a new stake in The Hartford Insurance Group in the second quarter valued at approximately $12,436,000. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in The Hartford Insurance Group in the second quarter valued at approximately $960,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HIG. Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday, August 24th. JPMorgan Chase & Co. increased 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. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Royal Bank Of Canada lifted their price objective on shares of 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Trading Down 0.0%

Shares of NYSE:HIG opened at $138.51 on Monday. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The business has a 50 day moving average of $138.49 and a 200-day moving average of $136.56. 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 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 (NYSE:HIG) last released 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 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 the consensus estimate of $7.17 billion. During the same period in the previous year, the company posted $3.41 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is 15.51%.

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.