Sequoia Financial Advisors LLC Raises Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Sequoia Financial Advisors LLC increased its stake in The Hartford Insurance Group by 88.8% in the fourth quarter, buying 13,053 additional shares and bringing its total to 27,756 shares worth about $3.8 million.
• The Hartford reported mixed first-quarter results: EPS of $3.09 missed estimates, but revenue came in at $14.45 billion, well above expectations and up 6.1% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $149.31, while the company also pays a quarterly dividend of $0.60 per share.

Sequoia Financial Advisors LLC lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 88.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,756 shares of the insurance provider's stock after buying an additional 13,053 shares during the period. Sequoia Financial Advisors LLC's holdings in The Hartford Insurance Group were worth $3,825,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH raised its stake in shares of The Hartford Insurance Group by 24.9% in the third quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider's stock worth $94,212,000 after purchasing an additional 140,624 shares during the last quarter. Canada Post Corp Registered Pension Plan boosted its position in shares of The Hartford Insurance Group by 252.7% during the third quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider's stock valued at $3,245,000 after buying an additional 17,582 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in The Hartford Insurance Group by 109.2% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider's stock worth $3,358,000 after buying an additional 13,138 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in The Hartford Insurance Group by 102.0% in the 3rd quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider's stock worth $2,739,000 after buying an additional 10,455 shares in the last quarter. Finally, National Pension Service raised its position in The Hartford Insurance Group by 6.7% in the 3rd quarter. National Pension Service now owns 509,580 shares of the insurance provider's stock worth $67,973,000 after buying an additional 31,912 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

HIG opened at $131.94 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 2.35 and a beta of 0.50. The company's 50 day moving average is $136.85 and its 200 day moving average is $135.14. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $14.45 billion for the quarter, compared to analysts' expectations of $7.41 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The firm's quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.24 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business 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. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio is 16.87%.

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HIG shares. Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, February 13th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. UBS Group dropped their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Barclays cut their target price on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Finally, Citigroup boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target 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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