Passumpsic Savings Bank Takes $2.14 Million Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Passumpsic Savings Bank opened a new position in The Hartford Insurance Group during the fourth quarter, buying 15,540 shares worth about $2.14 million.
• Institutional ownership in HIG remains very high, with 93.42% of shares held by institutional investors and hedge funds; meanwhile, EVP Lori A. Rodden sold 40,693 shares in a transaction valued at about $5.62 million.
• The Hartford reported Q1 EPS of $3.09, below estimates of $3.39, even as revenue rose 6.1% year over year; the stock also pays a quarterly dividend of $0.60 per share, yielding about 1.8%.

Passumpsic Savings Bank acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,540 shares of the insurance provider's stock, valued at approximately $2,141,000.

Several other hedge funds have also modified their holdings of the stock. Signal Advisors Wealth LLC raised its stake in shares of The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock valued at $240,000 after acquiring an additional 75 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 87 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of The Hartford Insurance Group by 16.4% in the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider's stock valued at $83,000 after acquiring an additional 87 shares in the last quarter. REAP Financial Group LLC raised its stake in The Hartford Insurance Group by 12.7% in the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock valued at $105,000 after buying an additional 89 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs raised its stake in The Hartford Insurance Group by 0.8% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider's stock valued at $1,645,000 after buying an additional 89 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Up 0.1%

Shares of NYSE:HIG opened at $134.02 on Monday. 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 company has a market cap of $36.74 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The firm has a 50 day simple moving average of $135.86 and a 200 day simple moving average of $135.48.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 $14.45 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were given a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is presently 16.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HIG shares. UBS Group cut their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Barclays cut their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Citigroup raised their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Finally, Cantor Fitzgerald cut their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.31.

About The Hartford Insurance Group

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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