Entropy Technologies LP Invests $3.36 Million in The Hartford Insurance Group, Inc. $HIG

Key Points

• Entropy Technologies LP initiated a new position in The Hartford Insurance Group, buying 24,380 shares valued at about $3.36 million in the fourth quarter.
• Insider activity included President Adin M. Tooker selling 8,895 shares for roughly $1.2 million through a pre-arranged trading plan.
• The Hartford reported quarterly EPS of $3.09, below expectations, while also declaring a quarterly dividend of $0.60 per share; analysts currently rate the stock a consensus Moderate Buy.

Entropy Technologies LP bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,380 shares of the insurance provider's stock, valued at approximately $3,360,000.

A number of other institutional investors have also recently bought and sold shares of HIG. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group in the third quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 152 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 87 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction 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 transaction, the president directly owned 38,208 shares of the company's stock, valued at approximately $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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

The Hartford Insurance Group Trading Down 0.1%

NYSE HIG opened at $129.49 on Monday. The company's fifty day simple moving average is $134.34 and its 200-day simple moving average is $135.66. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market cap of $35.50 billion, a P/E ratio of 9.10, a PEG 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 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The company's revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.05 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald lowered their target price 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. Bank of America boosted 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 report on Tuesday, April 14th. Mizuho lowered their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating for the company in a report on Friday, June 5th. UBS Group lowered their target price on shares of 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. Finally, Barclays decreased their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.31.

The Hartford Insurance Group 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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