Geode Capital Management LLC Has $1.09 Billion Stock Position in The Hartford Insurance Group, Inc. $HIG

Geode Capital Management LLC lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 7,948,948 shares of the insurance provider’s stock after buying an additional 34,274 shares during the period. Geode Capital Management LLC’s holdings in The Hartford Insurance Group were worth $1,091,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signal Advisors Wealth LLC lifted its position in The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 75 shares during the period. Sound Income Strategies LLC lifted its position in The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 87 shares during the period. Larson Financial Group LLC lifted its position in The Hartford Insurance Group by 16.4% in the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 87 shares during the period. REAP Financial Group LLC lifted its position in The Hartford Insurance Group by 12.7% in the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 89 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs lifted its position in The Hartford Insurance Group by 0.8% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider’s stock worth $1,645,000 after purchasing an additional 89 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Down 1.3%

Shares of NYSE HIG opened at $127.29 on Friday. The stock has a market cap of $34.89 billion, a PE ratio of 8.95, a PEG ratio of 2.31 and a beta of 0.50. The business has a fifty day moving average of $135.47 and a two-hundred day moving average of $136.00. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. 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 issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company 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 firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

Insiders Place Their Bets

In other The Hartford Insurance Group news, 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 trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on HIG. Roth Mkm raised their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday. Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company raised their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods reaffirmed 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 report on Monday, March 30th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.31.

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.