Korea Investment CORP Takes Position in The Hartford Insurance Group, Inc. $HIG

Korea Investment CORP acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 178,056 shares of the insurance provider’s stock, valued at approximately $23,596,000. Korea Investment CORP owned 0.07% of The Hartford Insurance Group as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Hartford Insurance Group during the first quarter worth approximately $207,000. NewEdge Advisors LLC lifted its holdings in The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after purchasing an additional 886 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after purchasing an additional 6,285 shares during the last quarter. HUB Investment Partners LLC boosted its stake in The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred 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 owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of several recent research reports. UBS Group lowered their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Barclays decreased their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Wells Fargo & Company lowered their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. JPMorgan Chase & Co. increased their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Stock Up 0.1%

Shares of NYSE HIG opened at $136.30 on Monday. 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 $120.33 and a 52 week high of $146.07. The stock has a market capitalization of $36.92 billion, a P/E ratio of 8.81, a PEG ratio of 3.34 and a beta of 0.46. The stock’s fifty day moving average is $137.56 and its 200 day moving average is $136.63.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is presently 15.51%.

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.