Rockefeller Capital Management L.P. Has $16.35 Million Stake in The Hartford Insurance Group, Inc. $HIG

Rockefeller Capital Management L.P. boosted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 137.8% during the 4th quarter, HoldingsChannel reports. The firm owned 118,665 shares of the insurance provider’s stock after buying an additional 68,765 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in The Hartford Insurance Group were worth $16,352,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HIG. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter worth $26,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the third quarter valued at $29,000. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the 3rd quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC lifted its stake in The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HIG. Keefe, Bruyette & Woods lowered their target price on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. Bank of America increased 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. Piper Sandler decreased their price target on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Finally, Cantor Fitzgerald dropped their price objective on shares of 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. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $147.31.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $131.26 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The business’s 50-day moving average price is $133.27 and its two-hundred day moving average price is $135.34. The company has a market capitalization of $35.98 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 2.36 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business earned $2.20 earnings per share. Analysts anticipate that The Hartford Insurance Group, Inc. will post 12.98 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group 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.