Panagora Asset Management Inc. Buys 456,478 Shares of The Hartford Insurance Group, Inc. $HIG

Panagora Asset Management Inc. boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 43.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,518,322 shares of the insurance provider’s stock after acquiring an additional 456,478 shares during the quarter. The Hartford Insurance Group accounts for 0.7% of Panagora Asset Management Inc.’s portfolio, making the stock its 20th largest position. Panagora Asset Management Inc. owned approximately 0.54% of The Hartford Insurance Group worth $209,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HIG. Seven Mile Advisory increased its stake in The Hartford Insurance Group by 5.8% in the 4th quarter. Seven Mile Advisory now owns 1,874 shares of the insurance provider’s stock valued at $258,000 after buying an additional 103 shares during the last quarter. MML Investors Services LLC increased its stake in The Hartford Insurance Group by 67.9% in the 4th quarter. MML Investors Services LLC now owns 60,772 shares of the insurance provider’s stock valued at $8,374,000 after buying an additional 24,575 shares during the last quarter. Mariner LLC increased its stake in The Hartford Insurance Group by 1.5% in the 4th quarter. Mariner LLC now owns 48,297 shares of the insurance provider’s stock valued at $6,657,000 after buying an additional 711 shares during the last quarter. Focus Partners Wealth increased its stake in The Hartford Insurance Group by 62.7% in the 4th quarter. Focus Partners Wealth now owns 39,580 shares of the insurance provider’s stock valued at $5,449,000 after buying an additional 15,249 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its stake in The Hartford Insurance Group by 25.4% in the 4th quarter. Icon Wealth Advisors LLC now owns 14,252 shares of the insurance provider’s stock valued at $1,964,000 after buying an additional 2,885 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HIG shares. Mizuho lowered their price target on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Cantor Fitzgerald lowered their price target 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. Bank of America lifted their price target 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. Keefe, Bruyette & Woods lowered their price target on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. Finally, Wells Fargo & Company lowered their price objective 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. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $147.31.

The Hartford Insurance Group Stock Down 0.1%

Shares of HIG stock opened at $129.49 on Monday. 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 firm’s 50-day moving average is $134.34 and its 200-day moving average is $135.66. The stock has a market cap of $35.50 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 2.35 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.05 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated 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 transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% 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.