Deprince Race & Zollo Inc. Reduces Position in The Hartford Insurance Group, Inc. $HIG

Deprince Race & Zollo Inc. decreased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 266,176 shares of the insurance provider’s stock after selling 5,476 shares during the period. Deprince Race & Zollo Inc.’s holdings in The Hartford Insurance Group were worth $35,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of HIG. New Vernon Investment Management LLC boosted its holdings in The Hartford Insurance Group by 1,685.7% in the 1st quarter. New Vernon Investment Management LLC now owns 44,643 shares of the insurance provider’s stock worth $5,524,000 after buying an additional 42,143 shares during the period. Baird Financial Group Inc. raised its holdings in The Hartford Insurance Group by 19.8% during the 1st quarter. Baird Financial Group Inc. now owns 25,597 shares of the insurance provider’s stock valued at $3,167,000 after acquiring an additional 4,233 shares during the period. Quarry LP lifted its position in shares of The Hartford Insurance Group by 430.2% during the first quarter. Quarry LP now owns 4,459 shares of the insurance provider’s stock worth $552,000 after acquiring an additional 3,618 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth $1,603,000. Finally, Point72 Europe London LLP bought a new position in shares of The Hartford Insurance Group in the first quarter worth $3,706,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $138.65 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $140.50. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a market cap of $38.64 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63. The stock has a 50-day moving average price of $132.22 and a 200-day moving average price of $129.56.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm posted $2.53 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Activity

In related news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Argus lifted their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Piper Sandler upped their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. UBS Group increased their price target on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $145.33.

About The Hartford Insurance Group

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.