Quantinno Capital Management LP Raises Holdings in The Hartford Insurance Group, Inc. $HIG

Quantinno Capital Management LP lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 38.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,685 shares of the insurance provider’s stock after purchasing an additional 49,932 shares during the quarter. Quantinno Capital Management LP owned about 0.07% of The Hartford Insurance Group worth $24,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Pacific Financial purchased a new position in The Hartford Insurance Group during the 1st quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, Sound Income Strategies LLC boosted its position in shares of The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday. Mizuho upped their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. UBS Group dropped their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Piper Sandler restated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.67.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s 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 sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $141.97 on Friday. The business’s 50 day moving average price is $134.51 and its 200-day moving average price is $135.72. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The company has a market cap of $38.46 billion, a P/E ratio of 9.18, a P/E/G ratio of 3.50 and a beta of 0.47. 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 (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company 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 revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $3.41 earnings per share. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.84 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend 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 currently 15.51%.

The Hartford Insurance Group Company Profile

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.