Lighthouse Investment Partners LLC Acquires 19,058 Shares of The Hartford Insurance Group, Inc. $HIG

Lighthouse Investment Partners LLC increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 28.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,883 shares of the insurance provider’s stock after buying an additional 19,058 shares during the period. Lighthouse Investment Partners LLC’s holdings in The Hartford Insurance Group were worth $11,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. Cornerstone Planning Group LLC grew its stake in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group during the 3rd quarter worth $26,000. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group during the 3rd quarter worth $27,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth about $29,000. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after buying an additional 99 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Hartford Insurance Group

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 sale, the chief executive officer directly owned 194,817 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 384,621 shares of company stock worth $53,010,925 in the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Roth Mkm lifted their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Piper Sandler upped their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Argus increased their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Finally, UBS Group raised their price target on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Down 1.3%

Shares of The Hartford Insurance Group stock opened at $132.68 on Monday. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s 50-day moving average is $136.99 and its 200 day moving average is $133.88. The firm has a market cap of $36.60 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.29 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.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 firm posted $2.94 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be paid a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is currently 17.99%.

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.