The Hartford Insurance Group, Inc. $HIG Holdings Lifted by Allstate Corp

Allstate Corp increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 107.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,601 shares of the insurance provider’s stock after buying an additional 10,687 shares during the quarter. Allstate Corp’s holdings in The Hartford Insurance Group were worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. 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 valued at $26,000 after buying an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter valued at $26,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group during the third quarter valued at $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its position in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho lifted their price objective on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Finally, Citigroup lifted their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.31.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $131.67 on Thursday. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50. The business has a 50-day moving average of $135.70 and a two-hundred day moving average of $136.06. The stock has a market capitalization of $36.10 billion, a P/E ratio of 9.25, a P/E/G ratio of 2.43 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the firm earned $2.20 EPS. The Hartford Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is currently 16.87%.

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.