17,796 The Hartford Insurance Group, Inc. $HIG Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 291.1% during the third quarter, HoldingsChannel.com reports. The firm owned 23,910 shares of the insurance provider’s stock after acquiring an additional 17,796 shares during the quarter. Alps Advisors Inc.’s holdings in The Hartford Insurance Group were worth $2,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CenterBook Partners LP purchased a new position in The Hartford Insurance Group in the 3rd quarter worth about $230,000. Heritage Family Offices LLP bought a new stake in The Hartford Insurance Group during the 3rd quarter valued at about $167,000. Alta Advisers Ltd purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $226,000. Monte Financial Group LLC boosted its position in The Hartford Insurance Group by 5.2% in the 3rd quarter. Monte Financial Group LLC now owns 48,567 shares of the insurance provider’s stock valued at $5,943,000 after buying an additional 2,421 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in The Hartford Insurance Group by 5.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,434 shares of the insurance provider’s stock valued at $2,133,000 after buying an additional 869 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Performance

HIG stock opened at $134.88 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50-day moving average price of $132.66 and a 200 day moving average price of $135.52. The company has a market capitalization of $36.07 billion, a P/E ratio of 9.82, a PEG ratio of 1.94 and a beta of 0.48. The Hartford Insurance Group, Inc. has a 1-year low of $120.42 and a 1-year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The company had revenue of $7.22 billion for the quarter, compared to analysts’ expectations of $7.37 billion. During the same period in the prior year, the business earned $3.78 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 13.34 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be issued a $0.67 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 14.53%.

Analyst Ratings Changes

HIG has been the topic of a number of research reports. JPMorgan Chase & Co. raised 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. Wells Fargo & Company decreased their price target on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Truist Financial initiated coverage on The Hartford Insurance Group in a report on Monday, October 12th. They issued a “hold” rating and a $137.00 price target for the company. Cantor Fitzgerald dropped their price objective on The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. Finally, Morgan Stanley reduced their price objective on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average target price of $144.69.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Costello sold 31,597 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $135.75, for a total value of $4,289,292.75. Following the completion of the sale, the chief financial officer owned 82,988 shares of the company’s stock, valued at approximately $11,265,621. This represents a 27.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals.

Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.

The Hartford serves customers primarily in the United States, with select international operations.