TD Asset Management Inc raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 364,097 shares of the insurance provider’s stock after acquiring an additional 11,571 shares during the quarter. TD Asset Management Inc owned approximately 0.13% of The Hartford Insurance Group worth $50,173,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan boosted its position in The Hartford Insurance Group by 252.7% in the third quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock valued at $3,245,000 after buying an additional 17,582 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in The Hartford Insurance Group by 109.2% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock valued at $3,358,000 after buying an additional 13,138 shares in the last quarter. Raiffeisen Bank International AG boosted its position in The Hartford Insurance Group by 102.0% in the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock valued at $2,739,000 after buying an additional 10,455 shares in the last quarter. Caprock Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $5,682,000. Finally, CSM Advisors LLC boosted its position in The Hartford Insurance Group by 20.6% in the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock valued at $44,866,000 after buying an additional 57,468 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on HIG. Barclays cut their target price on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. UBS Group cut their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Cantor Fitzgerald cut their target price on shares of 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. Finally, Wells Fargo & Company cut their target price on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $148.19.
The Hartford Insurance Group Price Performance
HIG stock opened at $132.25 on Friday. The company has a fifty day moving average price of $134.89 and a 200-day moving average price of $135.84. The company has a market capitalization of $36.25 billion, a P/E ratio of 9.29, a PEG ratio of 2.29 and a beta of 0.47. 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 debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 EPS. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.
The Hartford Insurance Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.
Insider Buying and Selling at The Hartford Insurance Group
In other news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.
About The Hartford Insurance Group
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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