Harleysville Group Inc. is a regional holding company for property and casualty insurance companies that operates in 32 states, primarily in the eastern half of the U.S.
HGIC underwrites property and casualty insurance policies and offers commercial automobile, workers’ compensation, and multiperil insurance, as well as personal automobile and homeowner’s insurance. The company markets its policies through almost 2,000 insurance agencies, and maintains offices in about a dozen states. On October 27, 2009, HGIC agreed to assume Delta’s book of Delta Lloyds Flood Insurance Business effective November 1, 2009. The company has a strong balance sheet with very little debt. Although its free cash flow per share fell 46% in 2009, the company still has sufficient room to grow its dividend with a current free cash flow payout of only 35%. HGIC is trading below my buy price of $37.78 and thus earns serious consideration as a future buy, as my allocation allows. For additional information, including the stock’s dividend history, please refer to its data page.
Source: Dividends Value
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Harleysville Group Inc. (HGIC) Dividend Stock Analysis
Posted by D4L | Thursday, July 15, 2010 | ArticleLinks | 0 comments »________________________________________________________________
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