Geode Capital Management LLC Has $943.45 Million Stake in The Hartford Insurance Group, Inc. $HIG

Geode Capital Management LLC increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 7,467,018 shares of the insurance provider’s stock after acquiring an additional 57,539 shares during the quarter. Geode Capital Management LLC’s holdings in The Hartford Insurance Group were worth $943,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HIG. Wealth Alliance LLC boosted its position in The Hartford Insurance Group by 34.4% during the second quarter. Wealth Alliance LLC now owns 2,199 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 563 shares during the period. M&G PLC lifted its stake in shares of The Hartford Insurance Group by 1.1% during the 2nd quarter. M&G PLC now owns 160,781 shares of the insurance provider’s stock worth $20,419,000 after buying an additional 1,780 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of The Hartford Insurance Group by 30.4% during the 2nd quarter. Forsta AP Fonden now owns 154,900 shares of the insurance provider’s stock worth $19,652,000 after buying an additional 36,100 shares during the period. Jupiter Asset Management Ltd. grew its stake in The Hartford Insurance Group by 22.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 514,123 shares of the insurance provider’s stock valued at $65,227,000 after buying an additional 92,541 shares during the last quarter. Finally, National Pension Service raised its holdings in The Hartford Insurance Group by 0.7% in the 2nd quarter. National Pension Service now owns 477,668 shares of the insurance provider’s stock valued at $60,602,000 after acquiring an additional 3,346 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This represents a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $133.61 on Friday. The business has a fifty day moving average price of $129.42 and a two-hundred day moving average price of $127.87. The stock has a market capitalization of $37.23 billion, a PE ratio of 10.92, a P/E/G ratio of 1.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.53 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HIG. Piper Sandler boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.