Assenagon Asset Management S.A. Purchases 170,452 Shares of The Hartford Insurance Group, Inc. $HIG

Assenagon Asset Management S.A. lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 154.4% in the first quarter, HoldingsChannel.com reports. The firm owned 280,884 shares of the insurance provider’s stock after acquiring an additional 170,452 shares during the period. Assenagon Asset Management S.A.’s holdings in The Hartford Insurance Group were worth $37,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. CSM Advisors LLC raised its position in shares of The Hartford Insurance Group by 20.6% during the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock worth $44,866,000 after acquiring an additional 57,468 shares during the last quarter. Legal & General Group Plc grew its stake in shares of The Hartford Insurance Group by 2.2% during the third quarter. Legal & General Group Plc now owns 2,553,541 shares of the insurance provider’s stock worth $340,617,000 after purchasing an additional 55,740 shares during the period. Nordea Investment Management AB increased its holdings in The Hartford Insurance Group by 1.9% in 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. Munich Reinsurance Co Stock Corp in Munich acquired a new position in The Hartford Insurance Group in the third quarter valued at about $2,618,000. Finally, Danske Bank A S acquired a new position in The Hartford Insurance Group in the third quarter valued at about $91,398,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred 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 represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

HIG has been the subject of several analyst reports. Piper Sandler decreased their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, June 11th. 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. Barclays decreased their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Wells Fargo & Company lowered 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 note on Friday, June 5th. Finally, Bank of America lifted their price target on shares of 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. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $133.99 on Friday. The firm has a market cap of $36.73 billion, a PE ratio of 9.42, a PEG ratio of 2.39 and a beta of 0.47. 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 Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a fifty day moving average price of $132.87 and a 200 day moving average price of $135.35.

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 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 firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts predict that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s payout ratio 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.