Rakuten Investment Management Inc. Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Rakuten Investment Management Inc. purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 44,888 shares of the insurance provider’s stock, valued at approximately $5,992,000.

Several other institutional investors have also modified their holdings of HIG. Haven Private LLC raised its holdings in The Hartford Insurance Group by 1.1% in the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock valued at $930,000 after acquiring an additional 71 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in The Hartford Insurance Group by 40.3% during the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after acquiring an additional 79 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of The Hartford Insurance Group by 3.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock valued at $305,000 after acquiring an additional 82 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC raised its position in shares of The Hartford Insurance Group by 0.7% during the 4th quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HIG shares. Barclays decreased their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods raised their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Wells Fargo & Company reduced their price target on shares of 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. Royal Bank Of Canada lifted their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of The Hartford Insurance Group in a research report on Monday, August 24th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Up 0.5%

NYSE HIG opened at $138.51 on Friday. 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 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 cap of $37.52 billion, a PE ratio of 8.95, a PEG ratio of 3.40 and a beta of 0.46. The firm has a 50-day simple moving average of $138.49 and a 200 day simple moving average of $136.58.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is currently 15.51%.

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.