The Hartford Insurance Group, Inc. $HIG Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 110.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the insurance provider’s stock after purchasing an additional 5,250 shares during the period. International Assets Investment Management LLC’s holdings in The Hartford Insurance Group were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HIG. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $4,067,052,000. Bank of America Corp DE acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $350,777,000. Legal & General Group Plc acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $346,877,000. Bank of New York Mellon Corp purchased a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $337,907,000. Finally, Deutsche Bank AG purchased a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $145,575,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on HIG. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Royal Bank Of Canada upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Piper Sandler lowered The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $148.00 to $146.00 in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.69.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Costello sold 31,597 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $135.75, for a total transaction of $4,289,292.75. Following the completion of the transaction, the chief financial officer owned 82,988 shares of the company’s stock, valued at $11,265,621. This represents a 27.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 currently owned by company insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $138.07 on Thursday. The stock has a market capitalization of $36.92 billion, a P/E ratio of 8.36, a P/E/G ratio of 1.90 and a beta of 0.48. The business has a 50-day moving average of $132.87 and a two-hundred day moving average of $135.43. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.42 and a fifty-two week high of $146.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28.

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

The Hartford Insurance Group Increases Dividend

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

About The Hartford Insurance Group

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.