Harvest Investment Advisors LLC Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Harvest Investment Advisors LLC acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the fourth quarter, HoldingsChannel reports. The firm acquired 14,409 shares of the insurance provider’s stock, valued at approximately $1,986,000.

A number of other hedge funds have also recently made changes to their positions in HIG. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. Norges Bank bought a new stake in shares of The Hartford Insurance Group in the 4th quarter worth approximately $611,724,000. Allianz Asset Management GmbH lifted its holdings in shares of The Hartford Insurance Group by 131.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after acquiring an additional 925,789 shares during the last quarter. Danske Bank A S bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $91,398,000. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after acquiring an additional 633,592 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Trading Up 0.8%

NYSE:HIG opened at $130.92 on Wednesday. The company has a fifty day moving average of $134.10 and a 200 day moving average of $135.56. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $35.89 billion, a P/E ratio of 9.20, a P/E/G ratio of 2.35 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 13.05 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders 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 yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HIG. Cantor Fitzgerald lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. UBS Group lowered their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Barclays lowered their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Bank of America upped their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group Company 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.