Meiji Yasuda Life Insurance Co Has $669,000 Position in The Hartford Insurance Group, Inc. $HIG

Meiji Yasuda Life Insurance Co lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 49.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,015 shares of the insurance provider’s stock after selling 4,944 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in The Hartford Insurance Group were worth $669,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at approximately $506,329,000. Franklin Resources Inc. grew its holdings in shares of The Hartford Insurance Group by 51.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock worth $414,632,000 after purchasing an additional 1,111,659 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of The Hartford Insurance Group by 217.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock worth $105,593,000 after purchasing an additional 570,521 shares in the last quarter. First Trust Advisors LP increased its position in shares of The Hartford Insurance Group by 16.7% during the third quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider’s stock valued at $421,837,000 after purchasing an additional 452,274 shares during the period. Finally, Man Group plc raised its stake in shares of The Hartford Insurance Group by 36.6% in the second quarter. Man Group plc now owns 1,064,849 shares of the insurance provider’s stock valued at $135,097,000 after purchasing an additional 285,596 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred 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 in the company, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lori A. Rodden sold 5,681 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 343,928 shares of company stock worth $47,393,256. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent research reports. Evercore lifted their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. 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 note on Friday, January 30th. Cantor Fitzgerald lifted their target price on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. UBS Group upped their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Wells Fargo & Company increased their price target on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Stock Down 0.3%

Shares of NYSE:HIG opened at $139.32 on Monday. The company’s fifty day moving average is $137.25 and its 200-day moving average is $133.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52 week low of $107.49 and a 52 week high of $144.50. The company has a market capitalization of $38.43 billion, a PE ratio of 10.44, a P/E/G ratio of 1.35 and a beta of 0.60.

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

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is 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 presently 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.