The Hartford Insurance Group, Inc. $HIG Stock Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,749 shares of the insurance provider’s stock after purchasing an additional 7,762 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in The Hartford Insurance Group were worth $8,290,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. SEB Asset Management AB acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth about $69,310,000. National Pension Service boosted its holdings in The Hartford Insurance Group by 4.9% in the second quarter. National Pension Service now owns 554,720 shares of the insurance provider’s stock valued at $73,511,000 after purchasing an additional 26,060 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in The Hartford Insurance Group by 262.4% in the second quarter. Engineers Gate Manager LP now owns 61,198 shares of the insurance provider’s stock valued at $8,110,000 after purchasing an additional 44,310 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in The Hartford Insurance Group by 222.6% in the third quarter. Assenagon Asset Management S.A. now owns 296,906 shares of the insurance provider’s stock valued at $36,329,000 after purchasing an additional 204,857 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in The Hartford Insurance Group in the second quarter valued at approximately $2,286,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In other 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Up 2.2%

Shares of NYSE HIG opened at $137.81 on Wednesday. The business has a 50-day moving average price of $132.67 and a 200 day moving average price of $135.56. The stock has a market cap of $36.85 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.90 and a beta of 0.48. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 52-week low of $120.42 and a 52-week high of $146.07.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released 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 return on equity of 20.93% and a net margin of 15.85%. The company had revenue of $7.22 billion for the quarter, compared to analyst estimates of $7.37 billion. During the same quarter in the previous year, the company posted $3.78 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 13.34 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, December 1st. The Hartford Insurance Group’s payout ratio is 14.53%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HIG shares. Piper Sandler cut shares of The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $148.00 to $146.00 in a report on Wednesday, July 15th. Morgan Stanley lowered their target price on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Mizuho dropped their target price on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $144.69.

Read Our Latest Analysis on HIG

The Hartford Insurance Group Company Profile

(Free Report)

The Hartford Financial Services Group, Inc., known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals. Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.

See Also

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Institutional Ownership by Quarter for The Hartford Insurance Group (NYSE:HIG)

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