The Hartford Insurance Group, Inc. $HIG Stock Acquired by Vest Financial LLC

Key Points

• Vest Financial LLC increased its HIG position by 14.2% in the third quarter, adding 66,251 shares to own 534,073 shares valued at approximately $65.3 million.
• Institutional investors own 93.42% of The Hartford’s outstanding stock, while HIG recently traded at $135.76 with a market capitalization of $36.77 billion.
• The Hartford exceeded quarterly earnings expectations, reporting $3.42 in EPS and $7.26 billion in revenue; however, analysts maintain an average “Hold” rating with a consensus price target of $145.25.

Vest Financial LLC boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 534,073 shares of the insurance provider's stock after purchasing an additional 66,251 shares during the period. Vest Financial LLC owned about 0.20% of The Hartford Insurance Group worth $65,349,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Pacific Financial bought a new position in shares of The Hartford Insurance Group in the 1st quarter worth approximately $26,000. MidFirst Bank purchased a new position in shares of The Hartford Insurance Group in the second quarter worth approximately $26,000. Navigoe LLC bought a new stake in The Hartford Insurance Group during the second quarter valued at approximately $27,000. Polaris Financial Partners bought a new stake in The Hartford Insurance Group during the third quarter valued at approximately $27,000. Finally, Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group during the first quarter valued at approximately $29,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Performance

HIG opened at $135.76 on Thursday. The company has a 50 day simple moving average of $133.45 and a two-hundred day simple moving average of $134.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $36.77 billion, a P/E ratio of 8.78, a PEG ratio of 2.22 and a beta of 0.49. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm earned $3.41 EPS. The company's revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

HIG has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of The Hartford Insurance Group from $145.00 to $135.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Zacks Research upgraded shares of The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Mizuho dropped their price target on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $145.25.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford's commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers' compensation, property, general liability, and specialty insurance.

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