SG Americas Securities LLC Boosts Stock Position in The Hartford Insurance Group, Inc. $HIG

SG Americas Securities LLC raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,741 shares of the insurance provider’s stock after purchasing an additional 5,506 shares during the period. SG Americas Securities LLC’s holdings in The Hartford Insurance Group were worth $10,370,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HIG. Armstrong Advisory Group Inc. raised its position in shares of The Hartford Insurance Group by 5.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after buying an additional 80 shares during the last quarter. Mather Group LLC. raised its holdings in The Hartford Insurance Group by 4.5% in the 3rd quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 83 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 85 shares during the last quarter. Monument Capital Management lifted its stake in shares of The Hartford Insurance Group by 0.4% during the 3rd quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after purchasing an additional 85 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of The Hartford Insurance Group by 4.4% during the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock worth $262,000 after purchasing an additional 86 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HIG has been the subject of several analyst reports. Piper Sandler upped their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Morgan Stanley upped 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, November 17th. Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective on the stock. Mizuho initiated coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $147.07.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Stock Down 1.2%

HIG opened at $136.20 on Friday. The firm has a 50 day moving average price of $134.88 and a 200 day moving average price of $130.36. The company has a market cap of $37.95 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.61. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $140.50. 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 announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company posted $2.53 earnings per share. The Hartford Insurance Group’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

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

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.