Gateway Wealth Partners LLC purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 4,257 shares of the insurance provider’s stock, valued at approximately $576,000.
Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after purchasing an additional 73,835,976 shares in the last quarter. State Street Corp grew its stake in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares in the last quarter. Geode Capital Management LLC grew its stake in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after purchasing an additional 34,274 shares in the last quarter. Invesco Ltd. increased its holdings in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after buying an additional 496,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after buying an additional 72,448 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on HIG shares. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Barclays lowered their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Zacks Research cut The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $149.06.
The Hartford Insurance Group Stock Performance
Shares of HIG stock opened at $142.95 on Friday. The company has a market cap of $38.72 billion, a P/E ratio of 9.24, a PEG ratio of 3.95 and a beta of 0.47. The business has a 50 day moving average of $134.40 and a two-hundred day moving average of $135.67. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 EPS. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current year.
The Hartford Insurance Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.
Insiders Place Their Bets
In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.
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.
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