Park Avenue Securities LLC Acquires 3,986 Shares of The Hartford Insurance Group, Inc. $HIG

Park Avenue Securities LLC raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 15.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,418 shares of the insurance provider’s stock after acquiring an additional 3,986 shares during the quarter. Park Avenue Securities LLC’s holdings in The Hartford Insurance Group were worth $4,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. State Street Corp boosted its stake in shares of The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the period. Invesco Ltd. increased its stake in The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after buying an additional 496,821 shares during the period. Nordea Investment Management AB lifted its holdings in The Hartford Insurance Group by 5.3% during the 3rd 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 in the last quarter. Norges Bank purchased a new stake in The Hartford Insurance Group in the 2nd quarter valued at about $506,329,000. Finally, Franklin Resources Inc. increased its position in shares of The Hartford Insurance Group by 3.3% during the third quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock worth $450,449,000 after acquiring an additional 108,765 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $4,826,600.62. Following the sale, the chief financial officer 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 384,621 shares of company stock worth $53,010,925. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $132.87 on Friday. The firm has a market cap of $36.65 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.29 and a beta of 0.60. 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 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $136.64 and its 200 day moving average is $133.91.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the company earned $2.94 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HIG. Mizuho began coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. 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 target price for the company. JPMorgan Chase & Co. increased 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. Finally, Argus raised their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $148.13.

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.