Dividend Assets Capital LLC Has $4.37 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Dividend Assets Capital LLC boosted its stake in The Hartford Insurance Group by 164.8% in the first quarter, ending with 32,329 shares valued at about $4.37 million.
• The company recently reported Q1 earnings of $3.09 per share, missing analyst expectations of $3.39, while revenue came in at $7.23 billion versus the expected $7.41 billion.
• The Hartford paid a quarterly dividend of $0.60 per share and has a current annualized yield of 1.7%; meanwhile, analysts still rate the stock a Moderate Buy with a consensus price target of $147.31.

Dividend Assets Capital LLC increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 164.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,329 shares of the insurance provider's stock after acquiring an additional 20,122 shares during the period. Dividend Assets Capital LLC's holdings in The Hartford Insurance Group were worth $4,372,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of The Hartford Insurance Group by 286,241.4% in 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 during the last quarter. State Street Corp raised its position 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 raised 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 worth $1,091,440,000 after acquiring an additional 34,274 shares in the last quarter. Invesco Ltd. lifted 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 valued at $711,141,000 after acquiring an additional 496,821 shares during the last quarter. Finally, Norges Bank bought a new position in shares of The Hartford Insurance Group in the 4th quarter valued at about $611,724,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $137.52 on Monday. The firm has a 50-day moving average of $132.49 and a 200-day moving average of $135.42. 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 stock has a market cap of $37.70 billion, a PE ratio of 9.66, a P/E/G ratio of 2.53 and a beta of 0.47. 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 announced its quarterly 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 company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction on 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 completion of the sale, the president directly 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 document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. UBS Group reduced their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 27th. Cantor Fitzgerald lowered 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 report on Thursday, April 9th. Piper Sandler dropped their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday, June 11th. Finally, Mizuho cut their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.31.

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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