120,170 Shares in The Hartford Insurance Group, Inc. $HIG Purchased by Mizuho Markets Cayman LP

Key Points

• Mizuho Markets Cayman LP initiated a new position in The Hartford Insurance Group, buying 120,170 shares valued at about $16.6 million. The stake represents roughly 0.8% of Mizuho’s holdings and ranks as its 21st largest position.
• Insider activity included EVP Lori A. Rodden selling 40,693 shares at an average price of $138.05, reducing her ownership by about 61.6%. Insiders now hold about 1.30% of the stock.
• The Hartford recently reported quarterly earnings of $3.09 per share, missing estimates, while revenue of $7.23 billion also came in below expectations. The company also declared a $0.60 quarterly dividend, implying a 1.8% yield.

Mizuho Markets Cayman LP bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 120,170 shares of the insurance provider's stock, valued at approximately $16,559,000. The Hartford Insurance Group makes up about 0.8% of Mizuho Markets Cayman LP's holdings, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Signal Advisors Wealth LLC grew its position in The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock valued at $240,000 after buying an additional 75 shares in the last quarter. Sound Income Strategies LLC grew its position in The Hartford Insurance Group by 45.3% in the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock valued at $36,000 after buying an additional 87 shares in the last quarter. Larson Financial Group LLC grew its position in The Hartford Insurance Group by 16.4% in the 3rd quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider's stock valued at $83,000 after buying an additional 87 shares in the last quarter. REAP Financial Group LLC grew its position in The Hartford Insurance Group by 12.7% in the 3rd quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock valued at $105,000 after buying an additional 89 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs grew its position in The Hartford Insurance Group by 0.8% in the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider's stock valued at $1,645,000 after buying an additional 89 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent analyst reports. Cantor Fitzgerald decreased their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Morgan Stanley increased their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Barclays decreased their target price on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. Finally, Roth Mkm increased their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.31.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $136.15 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $135.68 and a 200-day moving average of $135.85. The firm has a market cap of $37.32 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $2.20 EPS. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

About The Hartford Insurance Group

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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