Prospera Financial Services Inc Increases Position in The Hartford Insurance Group, Inc. $HIG

Prospera Financial Services Inc lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 48.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,916 shares of the insurance provider’s stock after acquiring an additional 1,920 shares during the period. Prospera Financial Services Inc’s holdings in The Hartford Insurance Group were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Woodline Partners LP grew its stake in The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after purchasing an additional 755,128 shares during the last quarter. Nuveen LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $87,516,000. Bahl & Gaynor Inc. grew its position in shares of The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock worth $264,972,000 after buying an additional 684,390 shares during the last quarter. Amundi grew its position in shares of The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after buying an additional 417,951 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of The Hartford Insurance Group by 38.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock worth $189,427,000 after acquiring an additional 414,216 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HIG shares. UBS Group raised their target price on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Piper Sandler increased their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $140.14.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $133.61 on Friday. The business has a fifty day moving average of $129.42 and a 200 day moving average of $127.87. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be issued a $0.60 dividend. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.