Massachusetts Financial Services Co. MA Acquires 60,116 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Massachusetts Financial Services Co. MA boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,509,098 shares of the insurance provider's stock after buying an additional 60,116 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.24% of The Hartford Insurance Group worth $434,181,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after buying an additional 198 shares in the last quarter. Sharp Financial Services LLC acquired a new position in The Hartford Insurance Group in the 1st quarter worth $260,000. Oppenheimer & Co. Inc. lifted its holdings in The Hartford Insurance Group by 86.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after buying an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $233,000. Finally, Cloud Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $287,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HIG. Jefferies Financial Group dropped their target price on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Morgan Stanley boosted their price objective on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $133.67.

Insider Transactions at The Hartford Insurance Group

In other news, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the transaction, the senior vice president directly owned 622 shares of the company's stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Stock Performance

NYSE HIG traded up $1.83 during midday trading on Thursday, hitting $122.38. The company had a trading volume of 2,090,459 shares, compared to its average volume of 1,599,706. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. The stock has a market cap of $34.77 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.16 and a beta of 0.69. The firm has a fifty day simple moving average of $126.49 and a two-hundred day simple moving average of $119.42. The Hartford Insurance Group, Inc. has a fifty-two week low of $101.02 and a fifty-two week high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $2.34 EPS. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd were given a $0.52 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.08 annualized dividend and a yield of 1.70%. The Hartford Insurance Group's dividend payout ratio is 20.74%.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.