Janus Henderson Group PLC Buys 20,197 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Janus Henderson increased its Hartford stake by 5.6%, buying 20,197 additional shares to hold 383,504 shares valued at approximately $51.9 million. Institutional investors collectively own 93.42% of HIG.
• The Hartford exceeded quarterly earnings expectations, reporting $3.42 in EPS versus the $3.16 consensus and $7.26 billion in revenue, up 8.1% year over year.
• Analysts’ consensus rating remains “Hold,” with an average price target of $149.67. The company also declared a quarterly dividend of $0.60 per share, representing a 1.7% yield.

Janus Henderson Group PLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,504 shares of the insurance provider's stock after acquiring an additional 20,197 shares during the period. Janus Henderson Group PLC owned 0.14% of The Hartford Insurance Group worth $51,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Haven Private LLC lifted its position in shares of The Hartford Insurance Group by 1.1% in the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock worth $930,000 after purchasing an additional 71 shares during the period. GW&K Investment Management LLC raised its stake in The Hartford Insurance Group by 40.3% during the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock worth $37,000 after buying an additional 77 shares during the last quarter. Kestra Advisory Services LLC raised its stake in The Hartford Insurance Group by 0.4% during the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock worth $2,432,000 after buying an additional 79 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in The Hartford Insurance Group by 3.8% in the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock valued at $305,000 after buying an additional 82 shares during the period. Finally, Castlekeep Investment Advisors LLC boosted its position in The Hartford Insurance Group by 0.7% during the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider's stock valued at $1,810,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on HIG shares. Cantor Fitzgerald increased their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. UBS Group cut their target price on 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. Royal Bank Of Canada raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Barclays dropped their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Finally, Zacks Research cut The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $149.67.

The Hartford Insurance Group Price Performance

HIG stock opened at $141.97 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 company's 50-day moving average is $134.51 and its 200-day moving average is $135.72. The stock has a market capitalization of $38.46 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 3.48 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.84 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's payout ratio is currently 15.51%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

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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