Prudential PLC Boosts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Prudential PLC raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.4% during the second quarter, Holdings Channel reports. The firm owned 145,513 shares of the insurance provider’s stock after purchasing an additional 13,733 shares during the period. Prudential PLC’s holdings in The Hartford Insurance Group were worth $18,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Wealth Management Group LLC lifted its stake in shares of The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares in the last quarter. Meeder Asset Management Inc. lifted its position in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after buying an additional 161 shares in the last quarter. Signature Resources Capital Management LLC purchased a new stake in The Hartford Insurance Group during the second quarter worth approximately $38,000. Addison Advisors LLC increased its position in shares of The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at $44,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

HIG opened at $132.20 on Thursday. The company has a market capitalization of $36.84 billion, a P/E ratio of 10.80, a PEG ratio of 1.19 and a beta of 0.69. The company has a 50-day moving average of $129.56 and a 200-day moving average of $128.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $135.27.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm earned $2.53 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

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

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction 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 SEC, which is available through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HIG. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Wolfe Research initiated coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday. Evercore ISI upped their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

About The Hartford Insurance Group

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.