Sanctuary Advisors LLC Raises Holdings in The Hartford Insurance Group, Inc. $HIG

Sanctuary Advisors LLC lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,758 shares of the insurance provider’s stock after buying an additional 4,403 shares during the quarter. Sanctuary Advisors LLC’s holdings in The Hartford Insurance Group were worth $5,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its holdings in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the period. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $26,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $136.57 on Thursday. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $37.44 billion, a PE ratio of 9.60, a P/E/G ratio of 2.48 and a beta of 0.53. The stock has a 50 day moving average price of $137.38 and a 200 day moving average price of $134.89.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the business posted $2.20 EPS. The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.26 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 349,282 shares of company stock valued at $48,184,324. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on HIG shares. Roth Mkm raised their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Citigroup raised their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Finally, Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.31.

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.