Integrated Quantitative Investments LLC Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Integrated Quantitative Investments LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,501 shares of the insurance provider’s stock, valued at approximately $1,001,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HIG. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group in the third quarter worth $27,000. Cornerstone Planning Group LLC lifted its stake in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 184 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in shares of The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in The Hartford Insurance Group during the 2nd quarter valued at about $35,000. Finally, Addison Advisors LLC grew its position in The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 5,681 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the sale, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 343,928 shares of company stock worth $47,393,256 in the last quarter. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HIG shares. Cantor Fitzgerald increased their price objective on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Wells Fargo & Company increased their price target on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Piper Sandler boosted their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Roth Mkm upped their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Mizuho initiated coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group Stock Up 0.9%

Shares of NYSE HIG opened at $142.31 on Thursday. The firm has a fifty day simple moving average of $137.24 and a two-hundred day simple moving average of $133.68. The Hartford Insurance Group, Inc. has a 12 month low of $107.49 and a 12 month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $39.26 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.37 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the company earned $2.94 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

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.