Rockefeller Capital Management L.P. Increases Position in The Hartford Insurance Group, Inc. $HIG

Rockefeller Capital Management L.P. increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 11.9% during the 2nd quarter, Holdings Channel reports. The firm owned 46,244 shares of the insurance provider’s stock after acquiring an additional 4,921 shares during the period. Rockefeller Capital Management L.P.’s holdings in The Hartford Insurance Group were worth $5,867,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Private Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares during the period. Signature Resources Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth about $38,000. Addison Advisors LLC raised its stake in The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in The Hartford Insurance Group by 29.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $134.84 on Friday. The firm has a fifty day simple moving average of $129.59 and a two-hundred day simple moving average of $128.23. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.27. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $37.57 billion, a P/E ratio of 11.02, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, December 1st. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is currently 19.61%.

Insiders Place Their Bets

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Morgan Stanley raised their target price on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday. Evercore ISI boosted their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company cut their price objective on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.