Strategic Investment Advisors MI Makes New $813,000 Investment in The Hartford Insurance Group, Inc. $HIG

Strategic Investment Advisors MI purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,009 shares of the insurance provider’s stock, valued at approximately $813,000.

Several other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares in the last quarter. State Street Corp increased its position in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the period. Geode Capital Management LLC raised its holdings in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after purchasing an additional 34,274 shares in the last quarter. Invesco Ltd. raised its holdings in shares of The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after purchasing an additional 496,821 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of The Hartford Insurance Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock worth $635,490,000 after purchasing an additional 72,448 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was 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 owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HIG shares. Zacks Research downgraded shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company lowered their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Finally, Barclays cut their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $149.06.

The Hartford Insurance Group Stock Down 1.9%

Shares of The Hartford Insurance Group stock opened at $142.95 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market cap of $38.72 billion, a P/E ratio of 9.24, a PEG ratio of 3.95 and a beta of 0.47. The firm’s 50 day moving average price is $134.40 and its 200-day moving average price is $135.67. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. On average, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 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 is presently 15.51%.

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.