Collaborative Fund Advisors LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) during the third quarter, Holdings Channel.com reports. The firm acquired 3,794 shares of the insurance provider’s stock, valued at approximately $464,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of The Hartford Insurance Group during the second quarter worth $4,067,052,000. 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. Bank of America Corp DE raised its stake in The Hartford Insurance Group by 2.1% in the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock valued at $518,150,000 after buying an additional 79,827 shares in the last quarter. First Trust Advisors LP raised its stake in The Hartford Insurance Group by 5.8% in the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock valued at $468,113,000 after buying an additional 189,916 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in The Hartford Insurance Group in the second quarter valued at $346,877,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald dropped their price objective on The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company cut their target price on The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Finally, Mizuho decreased their target price on The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average price target of $144.69.
Get Our Latest Stock Analysis on HIG
The Hartford Insurance Group Trading Up 2.3%
NYSE HIG opened at $138.07 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s fifty day moving average price is $132.87 and its 200 day moving average price is $135.43. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.90 and a beta of 0.48. The Hartford Insurance Group, Inc. has a 12 month low of $120.42 and a 12 month high of $146.07.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The firm had revenue of $7.22 billion for the quarter, compared to analyst estimates of $7.37 billion. During the same period last year, the business earned $3.78 EPS. The Hartford Insurance Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 13.31 earnings per share for the current fiscal year.
The Hartford Insurance Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is 14.53%.
Insider Activity
In other news, CFO Beth Costello sold 31,597 shares of The Hartford Insurance Group stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $135.75, for a total transaction of $4,289,292.75. Following the sale, the chief financial officer owned 82,988 shares in the company, valued at approximately $11,265,621. The trade was a 27.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.
The Hartford Insurance Group Profile
The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.
The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.
See Also
- Five stocks we like better than The Hartford Insurance Group
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report).
Receive News & Ratings for The Hartford Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.
