Systematic Financial Management LP Boosts Stock Position in The Hartford Insurance Group, Inc. $HIG

Systematic Financial Management LP boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 80.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,250 shares of the insurance provider’s stock after purchasing an additional 5,475 shares during the period. Systematic Financial Management LP’s holdings in The Hartford Insurance Group were worth $1,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HIG. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group in the first quarter worth $207,000. NewEdge Advisors LLC raised its stake in shares of The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after buying an additional 886 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after buying an additional 6,285 shares during the period. HUB Investment Partners LLC raised its stake in shares of The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after buying an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after buying an additional 39,220 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $136.15 on Monday. 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 52-week low of $119.61 and a 52-week high of $144.50. The firm has a market cap of $37.32 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 2.45 and a beta of 0.50. The business’s fifty day moving average is $135.68 and its 200 day moving average is $135.93.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS 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 business had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts predict that The Hartford Insurance Group, Inc. will post 13.14 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, July 2nd. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Analyst Ratings Changes

Several brokerages have issued reports on HIG. Barclays lowered their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Wednesday, May 13th. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Finally, Cantor Fitzgerald lowered their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.31.

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.