The Hartford Insurance Group, Inc. $HIG Stock Position Increased by Vest Financial LLC

Vest Financial LLC raised its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 7.5% in the third quarter, HoldingsChannel reports. The firm owned 358,916 shares of the insurance provider’s stock after acquiring an additional 25,041 shares during the period. Vest Financial LLC’s holdings in The Hartford Insurance Group were worth $47,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in HIG. Dynasty Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $380,000. Root Financial Partners LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at approximately $220,000. Verdence Capital Advisors LLC raised its stake in The Hartford Insurance Group by 39.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,803 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 800 shares in the last quarter. WPG Advisers LLC boosted its position in The Hartford Insurance Group by 168.4% during the 3rd quarter. WPG Advisers LLC now owns 408 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 256 shares during the period. Finally, Allstate Corp bought a new position in shares of The Hartford Insurance Group in the third quarter worth $1,322,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HIG shares. Evercore ISI upped their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Monday, December 29th. Piper Sandler upped their price target on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Morgan Stanley raised their price objective 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, November 17th. Finally, Wells Fargo & Company boosted their target price on The Hartford Insurance Group from $140.00 to $153.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $130.34 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s 50 day moving average is $135.23 and its 200-day moving average is $130.73. The Hartford Insurance Group, Inc. has a 12-month low of $105.98 and a 12-month high of $140.50. The stock has a market capitalization of $36.32 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.15 and a beta of 0.61.

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

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) 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.