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On Monday, Hartford Insurance Group Inc’s 6.000% Non-Cumulative Preferred Stock, Series G (Symbol: HIG.PRG), was yielding above 6% based on its quarterly dividend of $1.50, with shares trading as low as $24.91. This yield compares to an average of 6.50% within the Financial preferred stock category.
As of the last close, HIG.PRG was trading at a 0.88% premium to its liquidation preference, in contrast to the average 9.10% discount in the Financial category. It’s important to note that these shares are non-cumulative, meaning in the event of missed dividend payments, the company is not obligated to pay missed dividends before resuming payments to common shareholders.
During Monday’s trading, HIG.PRG was up about 0.7% on the day, while its common shares (Symbol: HIG) remained flat.
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