Cetera Investment Advisers Has $11.28 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Cetera Investment Advisers increased its Hartford holdings by 12.2% in the first quarter, owning 83,441 shares valued at approximately $11.28 million. Institutional investors collectively hold 93.42% of the company’s stock.
• The Hartford exceeded quarterly expectations, reporting $3.42 in EPS versus the $3.16 consensus and $7.26 billion in revenue, up 8.1% year over year.
• The company declared a quarterly dividend of $0.60, equivalent to a $2.40 annualized payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.06.

Cetera Investment Advisers increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,441 shares of the insurance provider's stock after purchasing an additional 9,041 shares during the quarter. Cetera Investment Advisers' holdings in The Hartford Insurance Group were worth $11,284,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. State Street Corp raised its holdings in The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Geode Capital Management LLC boosted its position in The Hartford Insurance Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock valued at $1,091,440,000 after purchasing an additional 34,274 shares during the last quarter. Invesco Ltd. boosted its position in The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider's stock valued at $635,490,000 after purchasing an additional 72,448 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Performance

NYSE HIG opened at $142.95 on Friday. The stock has a market cap of $38.72 billion, a PE ratio of 9.24, a P/E/G ratio of 3.95 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50-day moving average of $134.40 and a 200-day moving average of $135.67. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.41 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday. Bank of America raised 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 note on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a "market perform" rating in a report on Tuesday. Barclays dropped their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $149.06.

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.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.