Financiere des Professionnels Fonds d investissement inc. Invests $863,000 in The Hartford Insurance Group, Inc. $HIG

Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,468 shares of the insurance provider’s stock, valued at approximately $863,000.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group in the third quarter valued at approximately $27,000. Private Wealth Management Group LLC grew its holdings in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after buying an additional 99 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in The Hartford Insurance Group during the 2nd quarter valued at $35,000. Finally, Signature Resources Capital Management LLC purchased a new stake in The Hartford Insurance Group during the 2nd quarter valued at $38,000. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on HIG shares. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Argus upped their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Piper Sandler increased their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, UBS Group upped their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.33.

The Hartford Insurance Group Stock Down 0.5%

HIG stock opened at $137.18 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $140.50. The company has a market capitalization of $38.22 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. The business’s 50 day moving average price is $133.55 and its two-hundred day moving average price is $130.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32.

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

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. 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 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate 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.