Vanguard Group Inc. decreased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,784,866 shares of the insurance provider's stock after selling 70,037 shares during the period. Vanguard Group Inc. owned approximately 13.20% of The Hartford Insurance Group worth $5,068,955,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in The Hartford Insurance Group in the first quarter valued at approximately $207,000. NewEdge Advisors LLC grew its position in The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock valued at $7,122,000 after acquiring an additional 886 shares in the last quarter. Treasurer of the State of North Carolina grew its position in The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after acquiring an additional 6,285 shares in the last quarter. HUB Investment Partners LLC grew its position in The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock valued at $878,000 after acquiring an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock valued at $24,488,000 after acquiring an additional 39,220 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.
Wall Street Analyst Weigh In
HIG has been the subject of several recent research reports. Roth Mkm increased their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Evercore increased their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an "in-line" rating in a research report on Wednesday, January 7th. UBS Group lowered their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday. Cantor Fitzgerald lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Finally, Citigroup increased their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $149.38.
Read Our Latest Stock Analysis on HIG
The Hartford Insurance Group Stock Up 1.7%
HIG stock opened at $136.77 on Tuesday. The Hartford Insurance Group, Inc. has a twelve month low of $118.81 and a twelve month high of $144.50. 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 capitalization of $37.49 billion, a P/E ratio of 9.61, a PEG ratio of 1.25 and a beta of 0.53. The firm has a 50 day simple moving average of $137.57 and a 200-day simple moving average of $134.81.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business posted $2.20 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.36 earnings per share for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.
Insiders Place Their Bets
In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the transaction, the chief executive officer owned 194,817 shares of the company's stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the transaction, the executive vice president directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 349,282 shares of company stock valued at $48,184,324. 1.30% of the stock is currently owned by corporate insiders.
The Hartford Insurance Group Company 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.
Further Reading
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).
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