Gabelli Funds LLC Has $10.34 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Gabelli Funds LLC lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 15.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 75,050 shares of the insurance provider’s stock after selling 14,150 shares during the quarter. Gabelli Funds LLC’s holdings in The Hartford Insurance Group were worth $10,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIG. Northwestern Mutual Wealth Management Co. increased its holdings in shares of The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after purchasing an additional 73,835,976 shares during the period. Danske Bank A S acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at about $91,398,000. Balyasny Asset Management L.P. increased its holdings in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after purchasing an additional 633,592 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in shares of The Hartford Insurance Group by 208.2% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock valued at $106,708,000 after purchasing an additional 540,445 shares during the period. Finally, Invesco Ltd. increased 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 during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HIG shares. Cantor Fitzgerald lowered their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Bank of America boosted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Mizuho boosted their price target on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Barclays lowered their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, UBS Group lowered their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

The Hartford Insurance Group Stock Down 1.2%

Shares of The Hartford Insurance Group stock opened at $134.90 on Wednesday. The stock has a market capitalization of $36.98 billion, a P/E ratio of 9.48, a PEG ratio of 2.45 and a beta of 0.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $135.70 and a two-hundred day moving average price of $135.67. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 EPS. Equities analysts expect that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the company’s 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 sale, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by 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.