Man Group plc Has $169.37 Million Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Man Group plc increased its stake in The Hartford Insurance Group by 30.4% in the fourth quarter, ending with 1,229,111 shares valued at about $169.37 million.
• The Hartford reported lower-than-expected quarterly earnings of $3.09 per share versus the $3.39 consensus, though revenue rose 6.1% year over year to $7.23 billion.
• The company announced a quarterly dividend of $0.60 per share, payable July 2, and analysts currently rate the stock a consensus Moderate Buy with a target price of $147.31.

Man Group plc lifted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,229,111 shares of the insurance provider's stock after purchasing an additional 286,582 shares during the period. Man Group plc owned 0.44% of The Hartford Insurance Group worth $169,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HIG. Ashton Thomas Private Wealth LLC acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at $207,000. NewEdge Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock valued at $7,122,000 after purchasing an additional 886 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after purchasing an additional 6,285 shares during the last quarter. HUB Investment Partners LLC lifted its stake in shares of The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock valued at $878,000 after purchasing an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock valued at $24,488,000 after purchasing an additional 39,220 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction dated 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 owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Stock Performance

Shares of HIG opened at $129.77 on Thursday. The company has a market capitalization of $35.57 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company's fifty day moving average price is $133.97 and its 200 day moving average price is $135.51.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 13.03 earnings per share 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 issued a dividend of $0.60 per share. The ex-dividend date 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 presently 16.87%.

Analysts Set New Price Targets

Several research firms recently issued reports on HIG. Keefe, Bruyette & Woods reduced their price objective on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating for the company in a research note on Thursday, June 4th. UBS Group reduced their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Bank of America lifted their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Finally, Mizuho dropped their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $147.31.

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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