RiverFront Investment Group LLC Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• RiverFront Investment Group increased its stake in The Hartford Insurance Group by 2.7% in the fourth quarter, bringing its holdings to 380,553 shares worth about $52.4 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 93.42% of the company’s stock. Several other firms also added to or initiated positions in HIG recently.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst estimates, even though revenue came in at $14.45 billion and rose 6.1% year over year. The company also paid a quarterly dividend of $0.60, implying a 1.8% annual yield.

RiverFront Investment Group LLC boosted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 380,553 shares of the insurance provider's stock after acquiring an additional 9,942 shares during the period. RiverFront Investment Group LLC owned 0.14% of The Hartford Insurance Group worth $52,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HIG. Cornerstone Planning Group LLC lifted its position in The Hartford Insurance Group by 707.7% during the third 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 last quarter. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group during the third quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the third quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group during the third quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its position in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Weiss Ratings restated a "buy (a-)" rating on shares of The Hartford Insurance Group in a research note on Wednesday. Morgan Stanley upped their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 3rd. Citigroup upped their price target on shares of 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, Barclays cut their price target on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $149.31.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

The Hartford Insurance Group Stock Up 0.1%

NYSE:HIG opened at $134.02 on Monday. The firm has a market capitalization of $36.74 billion, a P/E ratio of 9.42, a PEG ratio of 2.40 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company's fifty day moving average price is $135.86 and its 200-day moving average price is $135.48. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

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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