Dai ichi Life Insurance Company Ltd lessened its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,384 shares of the insurance provider's stock after selling 7,642 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in The Hartford Insurance Group were worth $11,817,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HIG. First Pacific Financial acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group in the third quarter worth $26,000. Phillip James Consulting Co. purchased a new position in The Hartford Insurance Group in the first quarter worth $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group in the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its holdings in The Hartford Insurance Group by 144.8% in 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 period. Institutional investors and hedge funds own 93.42% of the company's stock.
More The Hartford Insurance Group News
Here are the key news stories impacting The Hartford Insurance Group this week:
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on HIG. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 8th. Bank of America boosted their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Finally, Mizuho lifted their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $148.75.
Get Our Latest Stock Analysis on HIG
The Hartford Insurance Group Trading Down 1.2%
Shares of HIG stock opened at $140.50 on Friday. The stock has a market cap of $38.51 billion, a P/E ratio of 9.08, a P/E/G ratio of 3.88 and a beta of 0.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $144.50. The business has a fifty day simple moving average of $133.83 and a 200-day simple moving average of $135.51.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.92%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.41 EPS. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 12.69 earnings per share for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio is 16.87%.
Insider Activity
In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.
The Hartford Insurance Group Profile
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Free Report)
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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