Lombard Odier Asset Management Switzerland SA Buys Shares of 4,017 The Hartford Insurance Group, Inc. $HIG

Lombard Odier Asset Management Switzerland SA bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 1st quarter, Holdings Channel reports. The fund bought 4,017 shares of the insurance provider’s stock, valued at approximately $543,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares during the period. State Street Corp boosted its stake in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after acquiring an additional 55,983 shares during the last quarter. Geode Capital Management LLC grew its holdings in The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after acquiring an additional 34,274 shares during the period. Invesco Ltd. grew its holdings in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after acquiring an additional 496,821 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of The Hartford Insurance Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after acquiring an additional 72,448 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group Trading Up 2.5%

Shares of NYSE HIG opened at $143.61 on Wednesday. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $144.50. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 3.81 and a beta of 0.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $134.08 and its 200-day moving average is $135.57.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data 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 business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 EPS. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.73 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Cantor Fitzgerald lifted their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Mizuho upped their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company reduced their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $149.06.

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.