Equity Investment Corp Raises Holdings in The Hartford Insurance Group, Inc. $HIG

Equity Investment Corp lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 580,989 shares of the insurance provider’s stock after buying an additional 5,609 shares during the period. Equity Investment Corp owned about 0.21% of The Hartford Insurance Group worth $80,060,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC increased its stake in The Hartford Insurance Group by 144.8% in the 4th 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 in the last quarter. Finally, Sound Income Strategies LLC increased its stake in The Hartford Insurance Group by 45.3% in the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 87 shares in 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 firm’s 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 sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HIG shares. Piper Sandler dropped their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday. Mizuho dropped their price objective on 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. Keefe, Bruyette & Woods dropped their price objective on 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. Barclays dropped their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, Wells Fargo & Company dropped their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $147.38.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $128.42 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50. The stock has a fifty day moving average of $134.44 and a two-hundred day moving average of $135.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $35.20 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.33 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted 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 business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the business earned $2.20 EPS. The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 13.12 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

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.