Entropy Technologies LP Purchases New Stake in The Hartford Insurance Group, Inc. $HIG

Entropy Technologies LP purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,380 shares of the insurance provider’s stock, valued at approximately $3,360,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in The Hartford Insurance Group by 109.2% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock valued at $3,358,000 after acquiring an additional 13,138 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in The Hartford Insurance Group by 102.0% in the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock valued at $2,739,000 after acquiring an additional 10,455 shares in the last quarter. CSM Advisors LLC raised its holdings in The Hartford Insurance Group by 20.6% in the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock valued at $44,866,000 after acquiring an additional 57,468 shares in the last quarter. Legal & General Group Plc raised its holdings in The Hartford Insurance Group by 2.2% in the third quarter. Legal & General Group Plc now owns 2,553,541 shares of the insurance provider’s stock valued at $340,617,000 after acquiring an additional 55,740 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in The Hartford Insurance Group by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock valued at $606,956,000 after purchasing an additional 81,712 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. UBS Group lowered their target price 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. Keefe, Bruyette & Woods lowered 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 note on Thursday, June 4th. Piper Sandler lowered their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday. Cantor Fitzgerald lowered 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 note on Thursday, April 9th. Finally, Mizuho lowered their target price 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. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.31.

The Hartford Insurance Group Stock Down 0.1%

The Hartford Insurance Group stock opened at $129.49 on Monday. The company has a 50-day simple moving average of $134.34 and a 200-day simple moving average of $135.66. The firm has a market capitalization of $35.50 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.35 and a beta of 0.47. 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 Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its 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 company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 13.05 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. Investors of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is currently 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 owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.

The Hartford Insurance Group 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.