Collaborative Fund Advisors LLC Acquires New Holdings in The Hartford Insurance Group, Inc. $HIG

Collaborative Fund Advisors LLC bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,794 shares of the insurance provider’s stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its position in The Hartford Insurance Group by 124.4% in the third quarter. Chicago Partners Investment Group LLC now owns 5,766 shares of the insurance provider’s stock valued at $789,000 after buying an additional 3,197 shares during the last quarter. Rakuten Investment Management Inc. increased its position in shares of The Hartford Insurance Group by 8.8% during the third quarter. Rakuten Investment Management Inc. now owns 48,830 shares of the insurance provider’s stock valued at $6,145,000 after acquiring an additional 3,942 shares during the last quarter. Provenance Wealth Advisors LLC raised its stake in shares of The Hartford Insurance Group by 176.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 434 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 277 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of The Hartford Insurance Group by 15.7% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,892 shares of the insurance provider’s stock worth $232,000 after acquiring an additional 257 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $12,298,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Morgan Stanley cut their target price on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Piper Sandler lowered The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $148.00 to $146.00 in a research report on Wednesday, July 15th. Truist Financial started coverage on The Hartford Insurance Group in a research note on Monday, October 12th. They issued a “hold” rating and a $137.00 price objective for the company. Finally, Cantor Fitzgerald cut their price objective on The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group has an average rating of “Hold” and an average price target of $144.69.

Insider Activity

In other news, CFO Beth Costello sold 31,597 shares of The Hartford Insurance Group stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $135.75, for a total value of $4,289,292.75. Following the completion of the transaction, the chief financial officer owned 82,988 shares in the company, valued at approximately $11,265,621. This trade represents a 27.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $138.07 on Thursday. The company has a fifty day simple moving average of $132.87 and a two-hundred day simple moving average of $135.43. The company has a market cap of $36.92 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.90 and a beta of 0.48. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 52 week low of $120.42 and a 52 week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 26th. The insurance provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.17 by $0.33. The business had revenue of $7.22 billion for the quarter, compared to analyst estimates of $7.37 billion. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.78 earnings per share. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.31 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.67 per share. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, December 1st. This represents a $2.68 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 14.53%.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.