Arrowstreet Capital Limited Partnership Grows Stake in The Hartford Insurance Group, Inc. $HIG

Arrowstreet Capital Limited Partnership grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 45.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,560,370 shares of the insurance provider’s stock after purchasing an additional 489,521 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in The Hartford Insurance Group were worth $215,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of The Hartford Insurance Group during the 4th quarter valued at $1,089,000. Aptus Capital Advisors LLC grew its position in The Hartford Insurance Group by 10.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 8,429 shares of the insurance provider’s stock worth $1,162,000 after acquiring an additional 793 shares in the last quarter. Kestra Advisory Services LLC grew its position in The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after acquiring an additional 79 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in The Hartford Insurance Group by 9.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 2,183 shares of the insurance provider’s stock worth $301,000 after acquiring an additional 180 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in The Hartford Insurance Group by 15.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,173 shares of the insurance provider’s stock worth $162,000 after acquiring an additional 154 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on HIG shares. Wells Fargo & Company cut their target price on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Keefe, Bruyette & Woods lowered their price target 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 note on Thursday, June 4th. UBS Group lowered their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Mizuho lowered their price target on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Finally, Cantor Fitzgerald lowered their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.31.

The Hartford Insurance Group Price Performance

HIG stock opened at $129.49 on Monday. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50. The company has a market cap of $35.50 billion, a P/E ratio of 9.10, a PEG ratio of 2.35 and a beta of 0.47. The firm has a 50-day moving average of $134.34 and a 200 day moving average of $135.66. 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 released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) 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 the consensus estimate of $7.41 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 13.05 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis 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 is presently 16.87%.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

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.