Sagespring Wealth Partners LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,519 shares of the insurance provider's stock, valued at approximately $312,000.
Other institutional investors have also added to or reduced their stakes in the company. Horizon Advisory Services Inc. bought a new stake in The Hartford Insurance Group during the 4th quarter worth about $277,000. Victory Capital Management Inc. lifted its position in The Hartford Insurance Group by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock worth $514,363,000 after buying an additional 202,487 shares in the last quarter. Suncoast Equity Management bought a new stake in The Hartford Insurance Group during the 4th quarter worth about $311,000. M&T Bank Corp lifted its position in The Hartford Insurance Group by 13.9% during the 4th quarter. M&T Bank Corp now owns 46,868 shares of the insurance provider's stock worth $5,127,000 after buying an additional 5,702 shares in the last quarter. Finally, Equity Investment Corp lifted its position in The Hartford Insurance Group by 1.0% during the 4th quarter. Equity Investment Corp now owns 585,344 shares of the insurance provider's stock worth $64,037,000 after buying an additional 5,962 shares in the last quarter. 93.42% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at approximately $26,385,250. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now directly owns 622 shares of the company's stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.
The Hartford Insurance Group Stock Performance
HIG traded up $1.16 on Friday, reaching $126.06. The company had a trading volume of 2,967,242 shares, compared to its average volume of 1,588,448. The Hartford Insurance Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09. The stock has a market cap of $35.81 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.21 and a beta of 0.71. The company's fifty day moving average is $125.38 and its 200 day moving average is $118.01. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the prior year, the business earned $2.34 EPS. The Hartford Insurance Group's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.65%. The Hartford Insurance Group's payout ratio is presently 20.74%.
Analysts Set New Price Targets
Several brokerages have commented on HIG. Morgan Stanley boosted their price target on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. UBS Group boosted their price target on shares of The Hartford Insurance Group from $139.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Barclays boosted their price objective on shares of The Hartford Insurance Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. 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 on the stock in a research note on Wednesday, April 9th. Finally, Raymond James Financial boosted their price objective on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $131.15.
Get Our Latest Report on The Hartford Insurance Group
About The Hartford Insurance Group
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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.
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