Arrowstreet Capital Limited Partnership Has $215.02 Million Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Arrowstreet Capital boosted its stake in The Hartford Insurance Group by 45.7% in the fourth quarter, ending with 1.56 million shares valued at about $215 million. Institutional investors still hold the vast majority of the stock, at 93.42%.
• Insider activity included President Adin M. Tooker selling 8,895 shares for about $1.2 million under a pre-arranged Rule 10b5-1 plan. Company insiders own 1.30% of the stock.
• Analysts remain mixed but broadly constructive, with a consensus rating of Moderate Buy and an average price target of $147.31. The Hartford also recently reported quarterly EPS of $3.09, missing estimates, and declared a $0.60 quarterly dividend.

Arrowstreet Capital Limited Partnership grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,560,370 shares of the insurance provider's stock after acquiring an additional 489,521 shares during the period. Arrowstreet Capital Limited Partnership owned 0.56% of The Hartford Insurance Group worth $215,019,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HIG. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $26,000. United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC grew its stake in shares of The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after buying an additional 152 shares during the period. Finally, Sound Income Strategies LLC grew its stake in shares of 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 during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HIG shares. Mizuho cut their price target on The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. Piper Sandler cut their price target on The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods cut their price target on The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating for the company in a research note on Thursday, June 4th. Bank of America lifted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company cut their price target on The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating for the company in a research note on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $147.31.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $129.49 on Monday. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The company's 50 day moving average price is $134.34 and its two-hundred day moving average price is $135.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market cap of $35.50 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.35 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The Hartford Insurance Group's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 EPS. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 13.05 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's payout ratio is 16.87%.

The Hartford Insurance Group 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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