Thrivent Financial for Lutherans Boosts Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Thrivent Financial for Lutherans boosted its stake in The Hartford Insurance Group by 79.8% in the fourth quarter, bringing its holdings to 49,978 shares valued at about $6.89 million.
• Insider selling was reported when EVP Lori A. Rodden sold 40,693 shares on March 10, reducing her direct ownership by 61.58%; insiders now hold 1.30% of the stock.
• HIG missed earnings expectations in its latest quarterly report, posting EPS of $3.09 versus estimates of $3.39, while revenue came in at $14.45 billion and rose 6.1% year over year.

Thrivent Financial for Lutherans increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 79.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,978 shares of the insurance provider's stock after purchasing an additional 22,185 shares during the quarter. Thrivent Financial for Lutherans' holdings in The Hartford Insurance Group were worth $6,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIG. Cornerstone Planning Group LLC grew its holdings in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after buying an additional 184 shares during the period. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares of the company's stock, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $136.61 on Thursday. The stock's 50 day moving average price is $135.68 and its 200 day moving average price is $135.76. The firm has a market capitalization of $37.45 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.43 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year 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 earnings per share (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 during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HIG shares. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. Morgan Stanley boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 3rd. Roth Mkm boosted their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Wells Fargo & Company boosted their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Finally, Cantor Fitzgerald reduced their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. One 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. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and an average 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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