Plato Investment Management Ltd Invests $2.19 Million in The Hartford Insurance Group, Inc. $HIG

Plato Investment Management Ltd acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,593 shares of the insurance provider’s stock, valued at approximately $2,186,000.

A number of other institutional investors also recently modified their holdings of HIG. Y Intercept Hong Kong Ltd acquired a new position in shares of The Hartford Insurance Group during the first quarter valued at about $4,131,000. Abacus Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth approximately $1,971,000. SEB Asset Management AB bought a new position in The Hartford Insurance Group during the 1st quarter valued at $69,310,000. Strs Ohio lifted its stake in The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after acquiring an additional 8,890 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension boosted its holdings in The Hartford Insurance Group by 4.6% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock worth $25,303,000 after acquiring an additional 8,250 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of the firm’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 sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $136.73 on Tuesday. The company has a fifty day moving average of $136.88 and a 200-day moving average of $136.53. 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 Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The stock has a market capitalization of $37.04 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 3.39 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm earned $3.41 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company 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 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HIG. Zacks Research downgraded shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods upped their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Finally, UBS Group decreased their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $149.67.

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.