Concurrent Investment Advisors LLC Acquires 5,728 Shares of The Hartford Insurance Group, Inc. $HIG

Concurrent Investment Advisors LLC boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 95.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,719 shares of the insurance provider’s stock after buying an additional 5,728 shares during the period. Concurrent Investment Advisors LLC’s holdings in The Hartford Insurance Group were worth $1,615,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HIG. Ashton Thomas Private Wealth LLC bought a new position in The Hartford Insurance Group in the 1st quarter valued at approximately $207,000. NewEdge Advisors LLC raised its holdings in The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after buying an additional 886 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after buying an additional 6,285 shares during the last quarter. HUB Investment Partners LLC raised its holdings in The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after buying an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after buying an additional 39,220 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of several analyst reports. Roth Mkm raised their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Bank of America raised their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Barclays lowered their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 349,282 shares of company stock valued at $48,184,324. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $136.57 on Thursday. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $137.38 and a 200-day moving average of $134.89.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. On average, equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders 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 16.87%.

The Hartford Insurance Group 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.