Goelzer Investment Management Inc. Purchases New Holdings in The Hartford Insurance Group, Inc. $HIG

Goelzer Investment Management Inc. acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,802 shares of the insurance provider’s stock, valued at approximately $1,213,000.

Other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in The Hartford Insurance Group by 24.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider’s stock valued at $94,212,000 after purchasing an additional 140,624 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of The Hartford Insurance Group by 109.2% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock worth $3,358,000 after buying an additional 13,138 shares during the period. Canada Post Corp Registered Pension Plan grew its position in shares of The Hartford Insurance Group by 252.7% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock worth $3,245,000 after buying an additional 17,582 shares during the period. National Pension Service raised its stake in shares of The Hartford Insurance Group by 6.7% during the third quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock worth $67,973,000 after buying an additional 31,912 shares during the last quarter. Finally, Raiffeisen Bank International AG raised its stake in shares of The Hartford Insurance Group by 102.0% during the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock worth $2,739,000 after buying an additional 10,455 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HIG shares. UBS Group raised 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 note on Monday, December 8th. Citigroup upped their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Roth Mkm increased their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Piper Sandler raised their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Finally, Mizuho assumed coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Down 0.0%

NYSE:HIG opened at $132.29 on Monday. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. The stock has a 50-day moving average price of $136.90 and a two-hundred day moving average price of $134.00. The stock has a market cap of $36.49 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.28 and a beta of 0.60. 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 released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the firm posted $2.94 earnings per share. The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Insider Buying and Selling at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the sale, the chief executive officer owned 194,817 shares of the company’s stock, valued at $26,574,986.97. This represents a 50.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on 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 owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 384,621 shares of company stock valued at $53,010,925. 1.60% of the stock is currently owned by corporate insiders.

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.