International Assets Investment Management LLC grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 110.5% during the third quarter, HoldingsChannel.com reports. The firm owned 10,000 shares of the insurance provider’s stock after purchasing an additional 5,250 shares during the period. International Assets Investment Management LLC’s holdings in The Hartford Insurance Group were worth $1,224,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in HIG. BlackRock Inc. bought a new position in shares of The Hartford Insurance Group during the second quarter valued at $4,067,052,000. Dimensional Fund Advisors LP lifted its stake 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 period. Bank of America Corp DE boosted its stake in The Hartford Insurance Group by 2.1% during the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock worth $518,150,000 after acquiring an additional 79,827 shares in the last quarter. First Trust Advisors LP boosted its position in shares of The Hartford Insurance Group by 5.8% during the 1st quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock worth $468,113,000 after purchasing 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 approximately $346,877,000. 93.42% of the stock is currently owned by institutional investors.
The Hartford Insurance Group Price Performance
HIG opened at $138.07 on Thursday. The stock has a market capitalization of $36.92 billion, a P/E ratio of 8.36, a PEG ratio of 1.90 and a beta of 0.48. The stock has a 50-day moving average price of $132.87 and a 200-day moving average price of $135.43. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. 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 posted 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 the consensus estimate of $7.37 billion. During the same period last year, the firm posted $3.78 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 1st will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio is 14.53%.
Wall Street Analysts Forecast Growth
HIG has been the subject of a number of analyst reports. Piper Sandler cut shares of The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $148.00 to $146.00 in a report on Wednesday, July 15th. Royal Bank Of Canada increased their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Truist Financial started coverage on The Hartford Insurance Group in a research note on Monday, October 12th. They set a “hold” rating and a $137.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $144.69.
Check Out Our Latest Research Report on HIG
Insider Activity at The Hartford Insurance Group
In related news, CFO Beth Costello sold 31,597 shares of The Hartford Insurance Group stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $135.75, for a total value of $4,289,292.75. Following the transaction, the chief financial officer directly owned 82,988 shares of the company’s stock, valued at $11,265,621. The trade was a 27.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.
About The Hartford Insurance Group
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.
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