Lighthouse Investment Partners LLC Purchases 19,058 Shares of The Hartford Insurance Group, Inc. $HIG

Lighthouse Investment Partners LLC raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 28.5% in the third quarter, HoldingsChannel reports. The fund owned 85,883 shares of the insurance provider’s stock after purchasing an additional 19,058 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in The Hartford Insurance Group were worth $11,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the third quarter worth approximately $26,000. Princeton Global Asset Management LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC grew its position in 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 purchasing an additional 184 shares during the period. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group during the 3rd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after buying an additional 99 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price objective on shares of 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. Roth Mkm boosted their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Citigroup upped their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Piper Sandler lifted their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Price Performance

HIG opened at $132.68 on Monday. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $36.60 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 1.29 and a beta of 0.60. The firm’s fifty day moving average price is $136.99 and its two-hundred day moving average price is $133.88.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 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 during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is presently 17.99%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This trade represents a 34.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 384,621 shares of company stock worth $53,010,925. Insiders own 1.60% of the company’s stock.

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.