Daiwa Securities Group Inc. Boosts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Daiwa Securities Group Inc. grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 19.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,603 shares of the insurance provider's stock after buying an additional 10,832 shares during the period. Daiwa Securities Group Inc.'s holdings in The Hartford Insurance Group were worth $9,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HIG. Northwestern Mutual Wealth Management Co. lifted its holdings in The Hartford Insurance Group by 286,241.4% during the 4th 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 buying an additional 73,835,976 shares in the last quarter. State Street Corp lifted its holdings in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock valued at $2,146,749,000 after buying an additional 55,983 shares in the last quarter. Geode Capital Management LLC lifted its holdings in The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock valued at $1,091,440,000 after buying an additional 34,274 shares in the last quarter. Invesco Ltd. lifted its holdings in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after buying an additional 496,821 shares in the last quarter. Finally, Norges Bank bought a new stake in The Hartford Insurance Group during the 4th quarter valued at about $611,724,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIG has been the subject of several recent research reports. Barclays reduced their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, April 24th. Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating for the company in a report on Thursday. Finally, Bank of America boosted their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.19.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company's stock, valued at $3,505,365.60. This represents a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.30% of the company's stock.

The Hartford Insurance Group Stock Performance

HIG opened at $132.25 on Friday. The firm's fifty day simple moving average is $134.89 and its two-hundred day simple moving average is $135.84. The company has a market cap of $36.25 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 2.37 and a beta of 0.47. 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 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 issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS 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 business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the company earned $2.20 earnings per share. The Hartford Insurance Group's quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.12 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

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.

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.