Arrowstreet Capital Limited Partnership Raises Holdings in The Hartford Insurance Group, Inc. $HIG

Arrowstreet Capital Limited Partnership boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIGFree Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,693,512 shares of the insurance provider’s stock after buying an additional 133,142 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in The Hartford Insurance Group were worth $229,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. Y Intercept Hong Kong Ltd purchased a new position in The Hartford Insurance Group during the first quarter valued at approximately $4,131,000. Abacus Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $1,971,000. Goelzer Investment Management Inc. bought a new position in The Hartford Insurance Group during the fourth quarter valued at approximately $1,213,000. Ameritas Advisory Services LLC increased its position in The Hartford Insurance Group by 1,905.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 10,250 shares of the insurance provider’s stock worth $1,412,000 after purchasing an additional 9,739 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension increased its position in The Hartford Insurance Group by 4.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock worth $25,303,000 after purchasing an additional 8,250 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on 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 completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on HIG. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Bank of America lifted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus price target of $148.75.

View Our Latest Stock Report on HIG

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $140.50 on Friday. The stock has a market capitalization of $38.51 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 3.88 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $144.50. The stock’s 50-day moving average price is $133.83 and its 200-day moving average price is $135.51. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 15.00%.The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm earned $3.41 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 12.69 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Key Stories Impacting The Hartford Insurance Group

Here are the key news stories impacting The Hartford Insurance Group this week:

The Hartford Insurance Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Hartford Insurance Group (NYSE:HIG)

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