178,056 Shares in The Hartford Insurance Group, Inc. $HIG Bought by Korea Investment CORP

Korea Investment CORP acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 178,056 shares of the insurance provider’s stock, valued at approximately $23,596,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Haven Private LLC lifted its holdings in shares of The Hartford Insurance Group by 1.1% in the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 71 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of The Hartford Insurance Group by 40.3% during the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of The Hartford Insurance Group by 0.4% during the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after purchasing an additional 79 shares during the last quarter. Koshinski Asset Management Inc. increased its position in The Hartford Insurance Group by 3.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 82 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC lifted its stake in The Hartford Insurance Group by 0.7% in the 4th quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $136.30 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. The firm has a market cap of $36.92 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.46. The firm’s fifty day moving average is $137.56 and its 200-day moving average is $136.63.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share 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 the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 earnings per share. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is 15.51%.

Insider Buying and Selling at The Hartford Insurance Group

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on HIG. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Piper Sandler reissued a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Mizuho boosted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Barclays reduced their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $149.67.

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.