Guardian Capital LP Has $21.66 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Guardian Capital LP boosted its stake in The Hartford by 7.4% to 162,364 shares, representing about $21.66 million at the end of the quarter.
• The Hartford beat quarterly expectations (EPS $4.06 vs. $3.22; revenue $7.31B), has a market cap of ~$38.4B and a PE of 10.4, and announced a $0.60 quarterly dividend (1.7% yield).
• Insiders have sold heavily recently (CEO sold 201,938 shares; insiders disposed of 343,928 shares worth ~ $47.4M over 90 days), while analysts maintain a consensus of Moderate Buy with an average price target of $148.13.

Guardian Capital LP boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 162,364 shares of the insurance provider's stock after purchasing an additional 11,197 shares during the quarter. Guardian Capital LP owned about 0.06% of The Hartford Insurance Group worth $21,658,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its position in shares of The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 184 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in shares of The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 99 shares during the period. Elevation Point Wealth Partners LLC bought a new position in The Hartford Insurance Group during the second quarter worth $35,000. Finally, Addison Advisors LLC boosted its stake in The Hartford Insurance Group by 129.3% during the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider's stock worth $41,000 after acquiring an additional 181 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HIG has been the subject of several research analyst reports. 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 note on Friday, January 30th. Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods boosted their target price on The Hartford Insurance Group from $160.00 to $163.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Citigroup upped their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Finally, Mizuho assumed coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an "outperform" rating and a $160.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $148.13.

The Hartford Insurance Group Trading Down 0.3%

HIG opened at $139.32 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The firm has a market capitalization of $38.43 billion, a PE ratio of 10.44, a P/E/G ratio of 1.36 and a beta of 0.60. The company's 50-day moving average is $137.25 and its 200 day moving average is $133.78.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.94 EPS. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 17.99%.

Insider Activity at The Hartford Insurance Group

In related news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company's stock, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the firm's stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 343,928 shares of company stock valued at $47,393,256 over the last 90 days. Insiders own 1.50% of the company's stock.

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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