Systematic Financial Management LP Boosts Stake in The Hartford Insurance Group, Inc. $HIG

Systematic Financial Management LP lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 80.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,250 shares of the insurance provider’s stock after purchasing an additional 5,475 shares during the quarter. Systematic Financial Management LP’s holdings in The Hartford Insurance Group were worth $1,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Cornerstone Planning Group LLC boosted its holdings in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Up 0.1%

Shares of NYSE:HIG opened at $136.15 on Monday. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. The firm has a market capitalization of $37.32 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.45 and a beta of 0.50. The stock has a 50 day moving average price of $135.68 and a 200-day moving average price of $135.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the company posted $2.20 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HIG shares. Keefe, Bruyette & Woods reissued 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 target price on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Cantor Fitzgerald lowered their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Bank of America upped their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Roth Mkm upped their price target on 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

Insider Activity

In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

The Hartford Insurance Group 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.