Edgestream Partners L.P. Buys New Shares in The Hartford Insurance Group, Inc. (NYSE:HIG)

Edgestream Partners L.P. bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,268 shares of the insurance provider's stock, valued at approximately $528,000.

A number of other institutional investors have also recently bought and sold shares of HIG. Norges Bank purchased a new stake in The Hartford Insurance Group in the fourth quarter valued at approximately $416,340,000. GAMMA Investing LLC grew its holdings in The Hartford Insurance Group by 14,049.5% in the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after purchasing an additional 1,413,945 shares during the period. Ameriprise Financial Inc. grew its holdings in The Hartford Insurance Group by 48.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after purchasing an additional 735,170 shares during the period. Northern Trust Corp grew its holdings in The Hartford Insurance Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after purchasing an additional 519,717 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in The Hartford Insurance Group in the fourth quarter valued at approximately $46,271,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. UBS Group boosted their price objective on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Jefferies Financial Group decreased their price objective on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $133.67.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $122.84 on Friday. The company has a market capitalization of $34.90 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.28 and a beta of 0.69. The firm has a fifty day simple moving average of $126.28 and a 200-day simple moving average of $119.68. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The Hartford Insurance Group, Inc. has a twelve month low of $101.12 and a twelve month high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.08 annualized dividend and a yield of 1.69%. The Hartford Insurance Group's dividend payout ratio is presently 20.74%.

Insider Transactions at The Hartford Insurance Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president directly owned 622 shares of the company's stock, valued at $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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