Vinva Investment Management Ltd Acquires 3,769 Shares of The Hartford Insurance Group, Inc. $HIG

Vinva Investment Management Ltd lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 19.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,940 shares of the insurance provider’s stock after acquiring an additional 3,769 shares during the quarter. Vinva Investment Management Ltd’s holdings in The Hartford Insurance Group were worth $3,034,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at $506,329,000. Franklin Resources Inc. boosted its position in The Hartford Insurance Group by 51.5% during the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock worth $414,632,000 after purchasing an additional 1,111,659 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of The Hartford Insurance Group by 217.9% in the second quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock valued at $105,593,000 after purchasing an additional 570,521 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of The Hartford Insurance Group by 16.7% in the third quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider’s stock valued at $421,837,000 after purchasing an additional 452,274 shares during the last quarter. Finally, Man Group plc raised its position in shares of The Hartford Insurance Group by 36.6% in the second quarter. Man Group plc now owns 1,064,849 shares of the insurance provider’s stock valued at $135,097,000 after purchasing an additional 285,596 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Evercore raised their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Argus increased their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Royal Bank Of Canada initiated coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective for the company. Citigroup boosted their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Roth Mkm upped their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

The Hartford Insurance Group Trading Down 1.0%

Shares of The Hartford Insurance Group stock opened at $137.91 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50-day moving average of $137.24 and a 200-day moving average of $133.83. The Hartford Insurance Group, Inc. has a 52-week low of $107.49 and a 52-week high of $144.50. The stock has a market cap of $38.04 billion, a PE ratio of 10.34, a PEG ratio of 1.35 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the firm earned $2.94 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 17.99%.

Insider Transactions at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lori A. Rodden sold 5,681 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. This trade represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 343,928 shares of company stock valued at $47,393,256. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Company 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.