Assetmark Inc. Acquires 11,158 Shares of The Hartford Insurance Group, Inc. $HIG

Assetmark Inc. boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 743,489 shares of the insurance provider’s stock after purchasing an additional 11,158 shares during the quarter. Assetmark Inc.’s holdings in The Hartford Insurance Group were worth $99,174,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its stake in The Hartford Insurance Group by 707.7% in 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 period. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $27,000. Private Wealth Management Group LLC boosted 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 valued at $28,000 after buying an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in shares of The Hartford Insurance Group by 72.8% in 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 period. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group in the 2nd quarter worth about $35,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HIG shares. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, January 29th. Wells Fargo & Company upped their price target on 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. Mizuho began coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price on the stock. Evercore increased their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. One equities research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Stock Down 0.0%

NYSE HIG opened at $141.96 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $107.49 and a 52 week high of $144.50. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $39.56 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. The stock’s 50-day moving average price is $135.69 and its 200-day moving average price is $132.25.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.94 EPS. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

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.