ABN Amro Investment Solutions Purchases 10,804 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• ABN Amro Investment Solutions boosted its stake in The Hartford Insurance Group by 340.2% in the fourth quarter, buying 10,804 additional shares to bring its total holdings to 13,980 shares worth about $1.93 million.
• Analysts remain generally positive on HIG, with an average Moderate Buy rating and an average price target of $149.31, though several firms recently trimmed their targets.
• The Hartford reported Q1 earnings of $3.09 per share, missing estimates of $3.39, while revenue came in at $7.23 billion; the company also declared a quarterly dividend of $0.60 per share, payable July 2.

ABN Amro Investment Solutions grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 340.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,980 shares of the insurance provider's stock after buying an additional 10,804 shares during the period. ABN Amro Investment Solutions' holdings in The Hartford Insurance Group were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signal Advisors Wealth LLC increased its stake in shares of The Hartford Insurance Group by 4.5% in the fourth 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 during the period. Sound Income Strategies LLC increased its stake in shares of The Hartford Insurance Group by 45.3% in the fourth 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 during the period. Larson Financial Group LLC increased its stake in shares of The Hartford Insurance Group by 16.4% in the third 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 during the period. REAP Financial Group LLC increased its stake in shares of The Hartford Insurance Group by 12.7% in the third 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 during the period. Finally, AG2R LA Mondiale Gestion D Actifs grew its stake in The Hartford Insurance Group by 0.8% during the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider's stock worth $1,645,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HIG. Cantor Fitzgerald decreased their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Citigroup raised their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of The Hartford Insurance Group in a research note on Wednesday, May 13th. Finally, Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $149.31.

The Hartford Insurance Group Stock Up 0.1%

Shares of NYSE:HIG opened at $136.15 on Friday. The business's 50 day simple moving average is $135.68 and its two-hundred day simple moving average is $135.85. The firm has a market cap of $37.32 billion, a P/E ratio of 9.57, a PEG ratio of 2.45 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company's stock.

The Hartford Insurance Group Company 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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