OMERS ADMINISTRATION Corp Grows Stock Position in The Hartford Insurance Group, Inc. $HIG

OMERS ADMINISTRATION Corp increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 56.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,755 shares of the insurance provider’s stock after purchasing an additional 6,041 shares during the period. OMERS ADMINISTRATION Corp’s holdings in The Hartford Insurance Group were worth $2,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Pacific Financial purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group during the third quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. Finally, Sound Income Strategies LLC boosted its position in The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on HIG. Barclays reduced their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Cantor Fitzgerald upped their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler reiterated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Wells Fargo & Company dropped their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Hold” and a consensus price target of $149.06.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $143.61 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $38.90 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 3.81 and a beta of 0.47. The firm’s fifty day simple moving average is $134.08 and its 200 day simple moving average is $135.57. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $3.41 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.73 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

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.