CWA Asset Management Group LLC Makes New $4.65 Million Investment in The Hartford Insurance Group, Inc. $HIG

CWA Asset Management Group LLC acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 33,736 shares of the insurance provider’s stock, valued at approximately $4,649,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its position in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth about $26,000. Princeton Global Asset Management LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $27,000. United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. bought a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Trading Up 1.1%

Shares of NYSE HIG opened at $132.87 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. 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 company has a market cap of $36.65 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.28 and a beta of 0.60. The business’s 50 day moving average price is $136.64 and its 200-day moving average price is $133.89.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.94 EPS. On average, 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 Dividend Announcement

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

Insider Activity

In related news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer owned 194,817 shares in the company, valued at $27,426,337.26. This trade represents a 34.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 384,621 shares of company stock valued at $53,010,925. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HIG. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Evercore raised their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Argus lifted their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Keefe, Bruyette & Woods boosted their target price on The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Citigroup increased their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.13.

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.