Jupiter Asset Management Ltd. raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,508 shares of the insurance provider’s stock after acquiring an additional 48,611 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.18% of The Hartford Insurance Group worth $70,899,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its holdings in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group during the third quarter valued at about $26,000. United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth about $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after buying an additional 152 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.
The Hartford Insurance Group Price Performance
NYSE:HIG opened at $128.98 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The company has a 50-day moving average of $135.58 and a 200-day moving average of $136.06. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a market capitalization of $35.36 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.37 and a beta of 0.50.
The Hartford Insurance Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.
Insider Activity
In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. UBS Group reduced their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Cantor Fitzgerald decreased their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company boosted their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Barclays reduced their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned 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 an average price target of $149.31.
Check Out Our Latest Research Report on HIG
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.
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