Global Retirement Partners LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

Global Retirement Partners LLC acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, Holdings Channel.com reports. The firm acquired 5,612 shares of the insurance provider’s stock, valued at approximately $744,000.

Several other institutional investors have also recently made changes to their positions in HIG. Northwestern Mutual Wealth Management Co. lifted its position in The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after purchasing an additional 73,835,976 shares during the period. State Street Corp grew its position in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares during the period. Geode Capital Management LLC raised its stake in shares of The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after buying an additional 34,274 shares during the last quarter. Invesco Ltd. raised its stake in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after buying an additional 496,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of The Hartford Insurance Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after buying an additional 72,448 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HIG shares. UBS Group dropped their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Wells Fargo & Company reduced their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Cantor Fitzgerald upped their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Trading Up 1.6%

HIG stock opened at $138.89 on Wednesday. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. 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 firm has a market cap of $37.62 billion, a P/E ratio of 8.98, a PEG ratio of 3.39 and a beta of 0.46. The company’s 50-day simple moving average is $137.08 and its 200-day simple moving average is $136.59.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 EPS. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 directly owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

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.