Caprock Group LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

Caprock Group LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 42,944 shares of the insurance provider’s stock, valued at approximately $5,682,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of The Hartford Insurance Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock worth $4,714,571,000 after acquiring an additional 156,807 shares during the last quarter. Geode Capital Management LLC raised its position in The Hartford Insurance Group by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock worth $943,448,000 after purchasing an additional 57,539 shares during the period. Invesco Ltd. lifted its stake in The Hartford Insurance Group by 2.9% in the second quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock worth $613,349,000 after purchasing an additional 136,483 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of The Hartford Insurance Group by 5.3% during the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock valued at $570,328,000 after buying an additional 215,941 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of The Hartford Insurance Group in the second quarter worth approximately $506,329,000. Institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 201,938 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 338,247 shares of company stock worth $46,587,520. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Up 0.2%

Shares of NYSE:HIG opened at $141.92 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The firm has a market cap of $39.54 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.09 and a beta of 0.61. The stock’s 50-day moving average price is $135.49 and its two-hundred day moving average price is $132.18. The Hartford Insurance Group, Inc. has a 12-month low of $107.49 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping 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 business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm posted $2.94 EPS. The company’s revenue was up 6.7% on a year-over-year basis. On average, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on HIG. UBS Group increased their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 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. Argus upped their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $148.13.

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.