Pensionfund Sabic Makes New $1.52 Million Investment in The Hartford Insurance Group, Inc. $HIG

Pensionfund Sabic acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 4th quarter, Holdings Channel reports. The firm acquired 11,000 shares of the insurance provider’s stock, valued at approximately $1,516,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the third quarter worth approximately $26,000. Princeton Global Asset Management LLC purchased a new position in The Hartford Insurance Group in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 0.0%

Shares of NYSE:HIG opened at $135.40 on Wednesday. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $37.35 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.32 and a beta of 0.60. The firm has a fifty day moving average price of $136.72 and a 200 day moving average price of $133.95.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the business posted $2.94 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is 17.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Roth Mkm raised their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Citigroup boosted their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada started coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price on the stock. Piper Sandler raised their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Finally, Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% 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, CEO Christopher Swift sold 100,970 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $27,426,337.26. The trade was a 34.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 384,621 shares of company stock valued at $53,010,925 in the last ninety days. Insiders own 1.60% of the company’s stock.

The Hartford Insurance Group 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.