The Hartford Insurance Group, Inc. $HIG Shares Purchased by Equity Investment Corp

Equity Investment Corp boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 580,989 shares of the insurance provider’s stock after purchasing an additional 5,609 shares during the quarter. Equity Investment Corp’s holdings in The Hartford Insurance Group were worth $80,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIG. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group in the third quarter valued at $26,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group in the third quarter valued at $29,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the third quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in The Hartford Insurance Group by 144.8% in the fourth 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. Finally, Sound Income Strategies LLC raised 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 valued at $36,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 0.6%

Shares of NYSE HIG opened at $128.42 on Friday. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50. The firm has a market cap of $35.20 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.33 and a beta of 0.47. 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 stock’s 50-day simple moving average is $134.44 and its 200-day simple moving average is $135.71.

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 analysts’ consensus estimates 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 business had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.12 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cantor Fitzgerald cut their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Mizuho cut their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Piper Sandler cut their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays cut their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Finally, UBS Group cut 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. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.38.

Insiders Place Their Bets

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

About The Hartford Insurance Group

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.