Quantinno Capital Management LP grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 38.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 179,685 shares of the insurance provider’s stock after buying an additional 49,932 shares during the quarter. Quantinno Capital Management LP’s holdings in The Hartford Insurance Group were worth $24,299,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Pacific Financial purchased a new position in The Hartford Insurance Group during the 1st quarter valued at $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at $26,000. Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group in the first quarter worth $29,000. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the third quarter worth $29,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $36,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at The Hartford Insurance Group
In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were 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 in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.
The Hartford Insurance Group Trading Down 0.8%
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) 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 the consensus estimate 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 revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.41 EPS. Analysts expect that The Hartford Insurance Group, Inc. will post 12.84 earnings per share for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The firm 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 $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 15.51%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on HIG. Royal Bank Of Canada boosted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $149.67.
View Our Latest Report on The Hartford Insurance Group
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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