Klein Pavlis & Peasley Financial Inc. Has $3.66 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Klein Pavlis & Peasley Financial Inc. grew its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 35.0% in the third quarter, Holdings Channel reports. The fund owned 27,400 shares of the insurance provider’s stock after acquiring an additional 7,100 shares during the quarter. The Hartford Insurance Group accounts for 2.2% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 13th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in The Hartford Insurance Group were worth $3,655,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group in the third quarter valued at about $27,000. Private Wealth Management Group LLC increased its stake in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after buying an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in The Hartford Insurance Group during the 2nd quarter worth approximately $35,000. Finally, Signature Resources Capital Management LLC bought a new stake in The Hartford Insurance Group during the 2nd quarter worth approximately $38,000. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wells Fargo & Company raised their target price on The Hartford Insurance Group from $140.00 to $153.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Monday, December 29th. Evercore ISI raised their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Finally, Mizuho started coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.47.

The Hartford Insurance Group Stock Performance

HIG stock opened at $129.49 on Friday. The firm has a market cap of $36.08 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $135.31 and a 200-day moving average price of $130.58. The Hartford Insurance Group, Inc. has a 1-year low of $105.98 and a 1-year high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.53 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were given a dividend of $0.60 per share. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s payout ratio is 19.61%.

The Hartford Insurance Group Company 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.