Geode Capital Management LLC Has $1.09 Billion Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Geode Capital Management increased its stake in The Hartford Insurance Group slightly in the fourth quarter, holding 7.95 million shares valued at about $1.09 billion.
• Wall Street sentiment is mixed but constructive: the stock has a Moderate Buy consensus with an average price target of $149.31, even as recent analysts adjusted targets up or down.
• The Hartford reported Q1 earnings of $3.09 per share, below estimates, while also announcing a quarterly dividend of $0.60 per share payable July 2.

Geode Capital Management LLC increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,948,948 shares of the insurance provider's stock after buying an additional 34,274 shares during the period. Geode Capital Management LLC owned 2.85% of The Hartford Insurance Group worth $1,091,440,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock worth $26,000 after buying an additional 184 shares during the last quarter. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group in the third quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group in the third quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the third quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC increased 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 worth $35,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. Barclays dropped their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a research report on Friday, April 24th. Bank of America lifted 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 research report on Tuesday, April 14th. Roth Mkm lifted their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Finally, Cantor Fitzgerald dropped their price target on shares of 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. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $149.31.

The Hartford Insurance Group Trading Down 1.3%

NYSE:HIG opened at $127.29 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The firm has a market cap of $34.89 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 2.31 and a beta of 0.50. 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 company's 50 day moving average is $135.47 and its 200-day moving average is $136.00.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released 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 Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the business earned $2.20 EPS. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.30% of the company's stock.

About The Hartford Insurance Group

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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