Goldman Sachs Group Inc. Has $325.22 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Goldman Sachs boosted its stake in The Hartford Insurance Group by 14.6% in the fourth quarter, ending with 2.36 million shares valued at about $325.2 million.
• The Hartford reported Q1 earnings of $3.09 per share, missing Wall Street expectations of $3.39, while revenue of $7.23 billion also came in below estimates. Even so, revenue rose 6.1% year over year and the company posted a 22.52% return on equity.
• The insurer declared a quarterly dividend of $0.60 per share, payable July 2, for an annualized yield of about 1.8%. Analysts currently have a consensus rating of Moderate Buy with a price target of $148.19.

Goldman Sachs Group Inc. increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,360,096 shares of the insurance provider's stock after purchasing an additional 300,931 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.85% of The Hartford Insurance Group worth $325,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kesler Norman & Wride LLC purchased a new position in The Hartford Insurance Group during the fourth quarter worth about $880,000. GW Henssler & Associates Ltd. boosted its holdings in The Hartford Insurance Group by 5.3% during the fourth quarter. GW Henssler & Associates Ltd. now owns 1,859 shares of the insurance provider's stock worth $256,000 after purchasing an additional 94 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in The Hartford Insurance Group by 0.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 12,891 shares of the insurance provider's stock worth $1,776,000 after purchasing an additional 100 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in The Hartford Insurance Group by 1.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 107,944 shares of the insurance provider's stock worth $14,875,000 after purchasing an additional 1,386 shares during the last quarter. Finally, MUFG Securities EMEA plc boosted its holdings in The Hartford Insurance Group by 1,221.5% during the fourth quarter. MUFG Securities EMEA plc now owns 71,123 shares of the insurance provider's stock worth $9,801,000 after purchasing an additional 65,741 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $132.25 on Friday. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 2.29 and a beta of 0.47. 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 Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The firm's 50-day simple moving average is $134.89 and its two-hundred day simple moving average is $135.84.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $7.41 billion. During the same period last year, the firm earned $2.20 EPS. The business's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald cut 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 report on Thursday, April 9th. Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th. Barclays lowered their price objective 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. Keefe, Bruyette & Woods lowered their price objective on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating on the stock in a research report on Thursday. Finally, UBS Group lowered their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.19.

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 that occurred 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 of the company's stock, valued at $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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.30% of the company's stock.

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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