Manning & Napier Advisors LLC Invests $4.85 Million in The Hartford Insurance Group, Inc. $HIG

Manning & Napier Advisors LLC acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 36,361 shares of the insurance provider’s stock, valued at approximately $4,854,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HIG. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. BlackRock Inc. purchased a new position in The Hartford Insurance Group during the 2nd quarter worth $4,067,052,000. State Street Corp grew its stake in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after buying an additional 55,983 shares during the last quarter. Geode Capital Management LLC increased its position in The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after buying an additional 34,274 shares in the last quarter. Finally, Invesco Ltd. increased its position in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after buying an additional 496,821 shares in 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 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 sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group Trading Up 2.2%

Shares of NYSE:HIG opened at $139.03 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The stock has a market cap of $37.66 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 3.34 and a beta of 0.46. The business has a 50-day moving average price of $137.75 and a 200-day moving average price of $136.64.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm earned $3.41 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Analysts Set New Price Targets

HIG has been the subject of several recent analyst reports. Zacks Research downgraded The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. UBS Group lowered their target price on shares of 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, Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $149.67.

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.