Spire Wealth Management Acquires 12,686 Shares of The Hartford Insurance Group, Inc. $HIG

Spire Wealth Management lifted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 323.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,603 shares of the insurance provider’s stock after purchasing an additional 12,686 shares during the quarter. Spire Wealth Management’s holdings in The Hartford Insurance Group were worth $2,288,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HIG. Ashton Thomas Private Wealth LLC bought a new position in The Hartford Insurance Group in the first quarter valued at $207,000. Choreo LLC boosted its stake in shares of The Hartford Insurance Group by 8.1% during the 2nd quarter. Choreo LLC now owns 5,395 shares of the insurance provider’s stock worth $687,000 after buying an additional 403 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of The Hartford Insurance Group by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 7,995 shares of the insurance provider’s stock worth $1,014,000 after buying an additional 458 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at about $35,000. Finally, Scotia Capital Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $687,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,339 shares of the business’s 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 384,621 shares of company stock valued at $53,010,925. 1.60% of the stock is owned by insiders.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $132.29 on Monday. The firm has a market capitalization of $36.49 billion, a PE ratio of 9.92, a PEG ratio of 1.28 and a beta of 0.60. The company’s 50-day moving average is $136.90 and its 200-day moving average is $134.00. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS 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 $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the firm posted $2.94 EPS. The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup upped their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Piper Sandler upped their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Evercore raised their target price 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. Morgan Stanley boosted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.