Bank of New York Mellon Corp Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

Bank of New York Mellon Corp raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 24.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,601,049 shares of the insurance provider’s stock after acquiring an additional 512,778 shares during the quarter. Bank of New York Mellon Corp’s holdings in The Hartford Insurance Group were worth $358,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Signal Advisors Wealth LLC raised its position in shares of The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock valued at $240,000 after buying an additional 75 shares during the last quarter. Castlekeep Investment Advisors LLC raised its position in shares of The Hartford Insurance Group by 0.7% in the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after buying an additional 86 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after buying an additional 87 shares during the last quarter. Larson Financial Group LLC raised its position in shares of The Hartford Insurance Group by 16.4% in the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider’s stock valued at $83,000 after buying an additional 87 shares during the last quarter. Finally, REAP Financial Group LLC raised its position in shares of The Hartford Insurance Group by 12.7% in the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider’s stock valued at $105,000 after buying an additional 89 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $127.44 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50. The stock has a market cap of $34.94 billion, a P/E ratio of 8.96, a PEG ratio of 2.26 and a beta of 0.47. The company has a 50-day moving average price of $134.93 and a 200 day moving average price of $135.87. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reduced their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their target price on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a research report on Thursday. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Barclays cut their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Finally, Mizuho raised their price objective on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.88.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

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.