Rakuten Investment Management Inc. Takes $833,000 Position in The Hartford Insurance Group, Inc. $HIG

Rakuten Investment Management Inc. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,242 shares of the insurance provider’s stock, valued at approximately $833,000.

Several other hedge funds have also recently added to or reduced their stakes in HIG. Armstrong Advisory Group Inc. lifted its position in shares of The Hartford Insurance Group by 5.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 80 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of The Hartford Insurance Group by 4.5% during the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock valued at $257,000 after purchasing an additional 83 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 85 shares during the period. Monument Capital Management increased its stake in The Hartford Insurance Group by 0.4% in the 3rd quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after purchasing an additional 85 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in The Hartford Insurance Group by 4.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock worth $262,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Trading Down 1.1%

NYSE HIG opened at $128.52 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 1-year low of $105.98 and a 1-year high of $140.50. The firm’s fifty day simple moving average is $134.99 and its 200-day simple moving average is $130.81. The company has a market capitalization of $35.81 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

Analysts Set New Price Targets

Several brokerages have commented on HIG. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group lifted their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Piper Sandler increased their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.47.

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.