Vestcor Inc Increases Stake in The Hartford Insurance Group, Inc. $HIG

Vestcor Inc raised its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 70.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,347 shares of the insurance provider’s stock after acquiring an additional 8,022 shares during the quarter. Vestcor Inc’s holdings in The Hartford Insurance Group were worth $2,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC grew its stake 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 buying an additional 152 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new stake in The Hartford Insurance Group during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction dated 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 in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated 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 transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Up 3.9%

HIG opened at $132.25 on Friday. The company has a fifty day moving average price of $134.89 and a 200-day moving average price of $135.84. The firm has a market capitalization of $36.25 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 2.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data 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 business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.12 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Analyst Upgrades and Downgrades

HIG has been the topic of several recent research reports. UBS Group dropped their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Mizuho decreased their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company dropped their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday. Cantor Fitzgerald cut their target price 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. Finally, Barclays reduced their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.19.

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.