Oak Thistle LLC Has $2.35 Million Stake in The Hartford Insurance Group, Inc. $HIG

Oak Thistle LLC increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 391.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,075 shares of the insurance provider’s stock after buying an additional 13,598 shares during the quarter. Oak Thistle LLC’s holdings in The Hartford Insurance Group were worth $2,353,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth about $26,000. Princeton Global Asset Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth about $27,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth about $29,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. 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 on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares in the company, valued at $27,426,337.26. The trade was a 34.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 349,282 shares of company stock worth $48,184,324 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $135.50 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 50-day moving average of $137.73 and a 200-day moving average of $134.21. The firm has a market cap of $37.38 billion, a P/E ratio of 10.16, a P/E/G ratio of 1.32 and a beta of 0.53. The Hartford Insurance Group, Inc. has a 1-year low of $108.22 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm earned $2.94 earnings per share. The Hartford Insurance Group’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HIG shares. Citigroup lifted their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Roth Mkm lifted their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Cantor Fitzgerald lifted their target price on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Piper Sandler lifted their target price on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.25.

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.