IFM Investors Pty Ltd Raises Stake in The Hartford Insurance Group, Inc. $HIG

IFM Investors Pty Ltd grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,277 shares of the insurance provider’s stock after acquiring an additional 3,956 shares during the quarter. IFM Investors Pty Ltd’s holdings in The Hartford Insurance Group were worth $11,667,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $207,000. NewEdge Advisors LLC increased its position in The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after purchasing an additional 886 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after purchasing an additional 6,285 shares during the period. HUB Investment Partners LLC raised its stake in The Hartford Insurance Group by 9.8% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted 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 purchasing an additional 39,220 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on HIG. Bank of America increased 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. Cantor Fitzgerald decreased their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Mizuho lowered their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. UBS Group cut their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $133.74 on Thursday. The company’s 50 day simple moving average is $132.53 and its 200-day simple moving average is $135.42. The company has a market capitalization of $36.66 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 2.43 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50. 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 (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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