Bessemer Group Inc. Has $1.05 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Bessemer Group Inc. reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 40.0% in the 1st quarter, HoldingsChannel reports. The firm owned 7,786 shares of the insurance provider’s stock after selling 5,181 shares during the period. Bessemer Group Inc.’s holdings in The Hartford Insurance Group were worth $1,053,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter worth approximately $26,000. First Pacific Financial acquired a new position in The Hartford Insurance Group in the 1st quarter valued at $26,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group during the 3rd quarter worth $29,000. Barnes Dennig Private Wealth Management LLC boosted its position in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares during the period. Finally, Sound Income Strategies LLC grew its stake 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 acquiring an additional 87 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $142.18 on Friday. The stock’s 50-day moving average is $133.70 and its 200-day moving average is $135.47. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $144.50. 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 stock has a market cap of $38.98 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 3.84 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the company earned $3.41 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.69 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HIG. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Barclays decreased their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Mizuho upped their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday. Finally, Bank of America boosted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $148.75.

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.