Janus Henderson Group PLC Acquires 20,197 Shares of The Hartford Insurance Group, Inc. $HIG

Janus Henderson Group PLC increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.6% during the first quarter, HoldingsChannel reports. The fund owned 383,504 shares of the insurance provider’s stock after acquiring an additional 20,197 shares during the quarter. Janus Henderson Group PLC’s holdings in The Hartford Insurance Group were worth $51,862,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in The Hartford Insurance Group during the 1st quarter valued at $4,131,000. Abacus Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 4th quarter worth $1,971,000. SEB Asset Management AB bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth $69,310,000. Arbejdsmarkedets Tillaegspension raised its holdings in shares of The Hartford Insurance Group by 4.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after purchasing an additional 8,250 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of The Hartford Insurance Group by 4.7% during the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after purchasing an additional 8,890 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 0.8%

The Hartford Insurance Group stock opened at $141.97 on Friday. The firm has a 50 day moving average price of $134.51 and a 200-day moving average price of $135.72. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The company has a market capitalization of $38.46 billion, a P/E ratio of 9.18, a P/E/G ratio of 3.48 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The Hartford Insurance Group’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.84 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HIG. Mizuho upped their price objective on shares of 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. Wells Fargo & Company cut their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Zacks Research downgraded The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus target price of $149.67.

Insiders Place Their Bets

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated 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 owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction 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 corporate insiders.

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.