J. Safra Sarasin Holding AG Buys Shares of 6,808 The Hartford Insurance Group, Inc. $HIG

J. Safra Sarasin Holding AG purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,808 shares of the insurance provider’s stock, valued at approximately $938,000.

A number of other institutional investors have also modified their holdings of HIG. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares in the last quarter. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at about $27,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth about $29,000. Finally, Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group during the third quarter worth about $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HIG shares. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Mizuho began coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price on the stock. Citigroup increased their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday. Finally, Piper Sandler boosted their price target on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.25.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 100,970 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer owned 194,817 shares in the company, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 384,621 shares of company stock valued at $53,010,925. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.4%

NYSE:HIG opened at $134.70 on Thursday. The stock has a 50-day simple moving average of $137.23 and a 200-day simple moving average of $134.04. The stock has a market cap of $37.16 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.31 and a beta of 0.53. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $2.94 EPS. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 17.99%.

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.