Dividend Assets Capital LLC Acquires 20,122 Shares of The Hartford Insurance Group, Inc. $HIG

Dividend Assets Capital LLC increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 164.8% in the first quarter, Holdings Channel reports. The institutional investor owned 32,329 shares of the insurance provider’s stock after buying an additional 20,122 shares during the period. Dividend Assets Capital LLC’s holdings in The Hartford Insurance Group were worth $4,372,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CSM Advisors LLC grew its stake in The Hartford Insurance Group by 20.6% during the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock worth $44,866,000 after purchasing an additional 57,468 shares during the period. Legal & General Group Plc lifted its stake in The Hartford Insurance Group by 2.2% in the third quarter. Legal & General Group Plc now owns 2,553,541 shares of the insurance provider’s stock valued at $340,617,000 after buying an additional 55,740 shares during the period. Nordea Investment Management AB boosted its holdings in shares of The Hartford Insurance Group by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after buying an additional 81,712 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $2,618,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in shares of The Hartford Insurance Group by 174.3% during the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 19,200 shares of the insurance provider’s stock worth $2,561,000 after buying an additional 12,200 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HIG shares. Piper Sandler dropped their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Cantor Fitzgerald decreased 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 note on Thursday, April 9th. Wells Fargo & Company dropped their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Weiss Ratings cut 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, Keefe, Bruyette & Woods reduced their target price on 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. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $137.52 on Monday. The business’s fifty day moving average is $132.49 and its 200 day moving average is $135.42. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month 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 stock has a market cap of $37.70 billion, a P/E ratio of 9.66, a P/E/G ratio of 2.53 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

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.