Man Group plc Buys 286,582 Shares of The Hartford Insurance Group, Inc. $HIG

Man Group plc boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 30.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,229,111 shares of the insurance provider’s stock after acquiring an additional 286,582 shares during the quarter. Man Group plc’s holdings in The Hartford Insurance Group were worth $169,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the third quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group in the third quarter valued at about $29,000. Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group in the third quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC increased its stake in The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares during the period. Finally, Sound Income Strategies LLC increased its stake in The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 87 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Piper Sandler lowered their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Wells Fargo & Company lowered their target price on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Cantor Fitzgerald lowered their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Barclays lowered their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.31.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $129.77 on Thursday. The firm has a market cap of $35.57 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month 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 company’s 50-day moving average price is $133.97 and its two-hundred day moving average price is $135.51.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.03 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

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.