ABC Arbitrage SA Purchases New Position in The Hartford Insurance Group, Inc. $HIG

ABC Arbitrage SA bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 27,405 shares of the insurance provider’s stock, valued at approximately $3,656,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cornerstone Planning Group LLC grew its holdings in shares of The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $27,000. Private Wealth Management Group LLC boosted its position in shares of The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in 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 buying an additional 99 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 338,247 shares of company stock valued at $46,587,520. Company insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Up 1.6%

HIG opened at $141.61 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The company has a market cap of $39.46 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.07 and a beta of 0.61. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The business’s fifty day moving average is $135.31 and its two-hundred day moving average is $132.11.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm posted $2.94 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Mizuho initiated coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective for the company. 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. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.13.

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.