Fifth Third Bancorp Has $14.92 Million Position in The Hartford Insurance Group, Inc. $HIG

Fifth Third Bancorp raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 311.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 110,349 shares of the insurance provider’s stock after acquiring an additional 83,544 shares during the quarter. Fifth Third Bancorp’s holdings in The Hartford Insurance Group were worth $14,923,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Haven Private LLC lifted its stake in shares of The Hartford Insurance Group by 1.1% in the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock valued at $930,000 after purchasing an additional 71 shares during the period. Signal Advisors Wealth LLC grew its stake in shares of The Hartford Insurance Group by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 75 shares during the period. GW&K Investment Management LLC grew its stake in shares of The Hartford Insurance Group by 40.3% during the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 77 shares during the period. Kestra Advisory Services LLC increased its holdings in The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after purchasing an additional 79 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of The Hartford Insurance Group by 3.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock worth $305,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HIG. Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald boosted their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.50.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. 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.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $138.22 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The firm’s 50 day moving average price is $132.77 and its two-hundred day moving average price is $135.42. The firm has a market cap of $37.89 billion, a P/E ratio of 9.71, a PEG ratio of 3.22 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 12.81 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group’s payout ratio is currently 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.