Spire Wealth Management Has $2.29 Million Stake in The Hartford Insurance Group, Inc. $HIG

Spire Wealth Management lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 323.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,603 shares of the insurance provider’s stock after buying an additional 12,686 shares during the period. Spire Wealth Management’s holdings in The Hartford Insurance Group were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HIG. Norges Bank bought a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at $506,329,000. Danske Bank A S acquired a new position in The Hartford Insurance Group in the third quarter valued at about $91,398,000. Balyasny Asset Management L.P. raised its stake in The Hartford Insurance Group by 6,431.8% in the third 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 in the last quarter. Qube Research & Technologies Ltd lifted its position in The Hartford Insurance Group by 217.9% during the second quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock worth $105,593,000 after purchasing an additional 570,521 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its stake in The Hartford Insurance Group by 208.2% during the third quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock worth $106,708,000 after buying an additional 540,445 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity 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 sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 100,970 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares in the company, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 384,621 shares of company stock valued at $53,010,925 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.0%

Shares of The Hartford Insurance Group stock opened at $132.29 on Monday. The firm’s 50 day moving average is $136.90 and its 200 day moving average is $134.00. The firm has a market capitalization of $36.49 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.28 and a beta of 0.60. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. 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 Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.94 EPS. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 17.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HIG. Roth Mkm boosted their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. UBS Group boosted their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald raised their target price on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.13.

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.