Jupiter Topco LLC Acquires New Shares in The Hartford Insurance Group, Inc. $HIG

Jupiter Topco LLC acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 378,673 shares of the insurance provider’s stock, valued at approximately $50,184,000.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. 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 report on Thursday, July 9th. Piper Sandler restated a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Finally, Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Down 1.5%

The Hartford Insurance Group stock opened at $137.77 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The business 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 current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $37.32 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 3.44 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last announced its 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 company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the company posted $3.41 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

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.