Northwestern Mutual Wealth Management Co. Buys Shares of 34,057 The Hartford Insurance Group, Inc. $HIG

Northwestern Mutual Wealth Management Co. bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,057 shares of the insurance provider’s stock, valued at approximately $4,513,000.

A number of other hedge funds have also made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of The Hartford Insurance Group in the first quarter worth $4,131,000. Abacus Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $1,971,000. SEB Asset Management AB acquired a new stake in The Hartford Insurance Group during the first quarter valued at $69,310,000. Strs Ohio boosted its position in The Hartford Insurance Group by 4.7% during the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after purchasing an additional 8,890 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension grew its stake in The Hartford Insurance Group by 4.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after purchasing an additional 8,250 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HIG. UBS Group cut their price target 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. Piper Sandler reissued a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Barclays dropped their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. JPMorgan Chase & Co. raised 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 research report on Monday, July 20th. Finally, Mizuho lifted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $149.67.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group 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 transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Up 0.1%

HIG opened at $136.30 on Monday. The firm has a market cap of $36.92 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.46. 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 business has a 50 day moving average price of $137.56 and a 200 day moving average price of $136.63. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the company posted $3.41 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. 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 15.51%.

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.