Federated Hermes Inc. Has $40.87 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Federated Hermes Inc. lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.2% during the 3rd quarter, Holdings Channel reports. The firm owned 306,387 shares of the insurance provider’s stock after purchasing an additional 28,235 shares during the period. Federated Hermes Inc.’s holdings in The Hartford Insurance Group were worth $40,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in HIG. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group during the 3rd quarter worth $27,000. Private Wealth Management Group LLC grew its holdings in shares of The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group in the second quarter worth $35,000. Finally, Addison Advisors LLC raised its stake in The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $132.35 on Friday. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.06 and a beta of 0.61. 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 business’s 50-day moving average price is $134.83 and its 200-day moving average price is $131.01. The Hartford Insurance Group, Inc. has a 12 month low of $105.98 and a 12 month high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.98. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on HIG. Morgan Stanley raised their target price on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Evercore ISI lifted their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cantor Fitzgerald raised their target price on The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Mizuho assumed coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

The Hartford Insurance Group 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.