The Hartford Insurance Group, Inc. $HIG Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 100.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,814 shares of the insurance provider’s stock after buying an additional 10,915 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in The Hartford Insurance Group were worth $2,768,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HIG. Private Wealth Management Group LLC grew its stake in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 161 shares during the period. Signature Resources Capital Management LLC bought a new position in The Hartford Insurance Group in the 2nd quarter valued at about $38,000. Addison Advisors LLC increased its stake in The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after buying an additional 181 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of The Hartford Insurance Group by 274.5% during the 1st quarter. Larson Financial Group LLC now owns 352 shares of the insurance provider’s stock worth $44,000 after buying an additional 258 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $133.90 on Friday. The business’s 50-day moving average is $129.47 and its 200-day moving average is $128.00. 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 company has a market capitalization of $37.31 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.27.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company posted $2.53 EPS. The Hartford Insurance Group’s revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Analyst Ratings Changes

HIG has been the subject of a number of research analyst reports. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Thursday. Piper Sandler raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, UBS Group upped their price target on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $140.14.

About The Hartford Insurance Group

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.