Tobam Buys 7,938 Shares of The Hartford Insurance Group, Inc. $HIG

Tobam raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2,192.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,300 shares of the insurance provider’s stock after buying an additional 7,938 shares during the quarter. Tobam’s holdings in The Hartford Insurance Group were worth $1,144,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth $26,000. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth about $29,000. United Financial Planning Group LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC boosted its stake in The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new position in The Hartford Insurance Group in the 4th quarter worth about $36,000. 93.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HIG shares. Keefe, Bruyette & Woods reduced their price objective on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. UBS Group cut their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.31.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $128.26 on Friday. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The stock has a 50-day moving average of $133.61 and a 200 day moving average of $135.40. 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 company has a market capitalization of $35.16 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 2.33 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. On average, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 13.03 EPS 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. Stockholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend 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%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

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.