Atlas Capital Advisors Inc. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,900 shares of the insurance provider's stock, valued at approximately $1,089,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its stake in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the period. State Street Corp increased its stake in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after purchasing an additional 55,983 shares during the period. Geode Capital Management LLC increased its stake in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock worth $1,091,440,000 after purchasing an additional 34,274 shares during the period. Invesco Ltd. increased its stake in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock worth $711,141,000 after purchasing an additional 496,821 shares during the period. Finally, Norges Bank purchased a new stake in The Hartford Insurance Group in the fourth quarter worth $611,724,000. Hedge funds and other institutional investors own 93.42% of the company's stock.
Insider Transactions at The Hartford Insurance Group
In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.
The Hartford Insurance Group Price Performance
HIG opened at $129.49 on Monday. The business's 50-day moving average is $134.34 and its two-hundred day moving average is $135.66. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $35.50 billion, a PE ratio of 9.10, a price-to-earnings-growth 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 earnings per share (EPS) 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 company had revenue of $7.23 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter last year, the firm earned $2.20 EPS. The Hartford Insurance Group's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.05 earnings per share for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group's payout ratio is 16.87%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on HIG shares. Mizuho reduced their target price on The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Cantor Fitzgerald cut their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Weiss Ratings lowered The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, May 27th. Barclays cut their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Wells Fargo & Company cut their price target on The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating on the stock in a research note on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $147.31.
Check Out Our Latest Report on The Hartford Insurance Group
About The Hartford Insurance Group
(
Free Report)
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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