J. Safra Sarasin Holding AG Takes Position in The Hartford Insurance Group, Inc. $HIG

J. Safra Sarasin Holding AG bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the fourth quarter, HoldingsChannel reports. The fund bought 6,808 shares of the insurance provider’s stock, valued at approximately $938,000.

A number of other hedge funds have also recently added to or reduced their stakes in HIG. Goelzer Investment Management Inc. acquired a new stake in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $1,213,000. Spire Wealth Management increased its holdings in shares of The Hartford Insurance Group by 323.9% in the 4th quarter. Spire Wealth Management now owns 16,603 shares of the insurance provider’s stock valued at $2,288,000 after acquiring an additional 12,686 shares during the period. Baron Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group in the 4th quarter valued at $221,000. Barnes Dennig Private Wealth Management LLC raised its position 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 valued at $35,000 after purchasing an additional 152 shares during the last quarter. Finally, Woodward Diversified Capital LLC raised its position in The Hartford Insurance Group by 5.1% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,950 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on HIG shares. UBS Group raised their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wells Fargo & Company upped their target price on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday. Cantor Fitzgerald raised their price target on The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Mizuho assumed coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.25.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $134.70 on Thursday. The stock has a market capitalization of $37.16 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.31 and a beta of 0.53. 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 Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. The company’s fifty day moving average is $137.23 and its two-hundred day moving average is $134.04.

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

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 17.99%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This represents a 34.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 384,621 shares of company stock worth $53,010,925 over the last 90 days. Company insiders own 1.50% of the company’s stock.

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.