Vanguard Personalized Indexing Management LLC Buys 8,513 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Vanguard Personalized Indexing Management increased its stake in The Hartford Insurance Group by 10.9% in the fourth quarter, adding 8,513 shares for a total of 86,479 shares valued at about $11.9 million.
• Institutional interest in HIG remains strong, with several major investors making large moves and institutional holders controlling 93.42% of the company’s stock.
• Analysts are mixed but generally positive: the consensus rating is Moderate Buy with a price target of $147.31, while the company also recently declared a quarterly dividend of $0.60 per share.

Vanguard Personalized Indexing Management LLC grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,479 shares of the insurance provider's stock after buying an additional 8,513 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in The Hartford Insurance Group were worth $11,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HIG. Northwestern Mutual Wealth Management Co. increased its position in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. Norges Bank bought a new stake in The Hartford Insurance Group in the fourth quarter worth $611,724,000. Allianz Asset Management GmbH increased its position in The Hartford Insurance Group by 131.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider's stock worth $224,901,000 after purchasing an additional 925,789 shares during the last quarter. Danske Bank A S bought a new stake in The Hartford Insurance Group in the third quarter worth $91,398,000. Finally, Balyasny Asset Management L.P. increased its position in The Hartford Insurance Group by 6,431.8% in the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock worth $85,829,000 after purchasing an additional 633,592 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HIG shares. Bank of America boosted their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. Cantor Fitzgerald reduced their price target on shares of 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. Mizuho reduced their price target on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. Weiss Ratings cut shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th. Finally, Piper Sandler reduced their price target on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a research report on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $147.31.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company's stock.

The Hartford Insurance Group Trading Up 0.1%

HIG stock opened at $129.72 on Tuesday. 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 twelve month low of $119.61 and a twelve month high of $144.50. The stock has a market capitalization of $35.56 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 2.35 and a beta of 0.47. The firm's fifty day simple moving average is $134.21 and its two-hundred day simple moving average is $135.61.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 13.05 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's payout ratio is currently 16.87%.

The Hartford Insurance Group Company Profile

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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