V Square Quantitative Management LLC Takes $1.10 Million Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• V Square Quantitative Management established a new position in The Hartford during Q4, acquiring 7,948 shares worth about $1.10 million.
• Company insiders have been net sellers: CEO Christopher Swift sold 100,970 shares (~$14.2M) and insiders sold a total of 349,282 shares valued at roughly $48.2M in the last three months.
• The Hartford beat Q4 EPS estimates ($4.06 vs. $3.22) and holds a MarketBeat consensus of "Moderate Buy" with a $148.25 target; it also pays a $0.60 quarterly dividend (about a 1.7% yield).

V Square Quantitative Management LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,948 shares of the insurance provider's stock, valued at approximately $1,095,000.

Several other large investors have also recently added to or reduced their stakes in HIG. Cornerstone Planning Group LLC lifted its position in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock worth $26,000 after buying an additional 184 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $27,000. United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $29,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares of the company's stock, valued at $27,426,337.26. The trade was a 34.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. The trade was a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 349,282 shares of company stock worth $48,184,324. Company insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HIG shares. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Barclays lowered their price objective on The Hartford Insurance Group from $162.00 to $159.00 and set an "overweight" rating for the company in a research note on Wednesday. Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday. Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, February 13th. Finally, Piper Sandler raised their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an "overweight" rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.25.

The Hartford Insurance Group Trading Up 1.1%

NYSE:HIG opened at $140.38 on Friday. The company has a market cap of $38.72 billion, a PE ratio of 10.52, a P/E/G ratio of 1.35 and a beta of 0.53. The Hartford Insurance Group, Inc. has a 52 week low of $112.81 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $138.05 and its two-hundred day moving average is $134.28.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $2.94 EPS. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is 17.99%.

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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