Oak Thistle LLC Grows Position in The Hartford Insurance Group, Inc. $HIG

Oak Thistle LLC raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 391.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,075 shares of the insurance provider’s stock after buying an additional 13,598 shares during the period. Oak Thistle LLC’s holdings in The Hartford Insurance Group were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC raised its holdings in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. Finally, United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Trading Down 0.7%

Shares of The Hartford Insurance Group stock opened at $135.50 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 12-month low of $108.22 and a 12-month high of $144.50. The firm has a market capitalization of $37.38 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.32 and a beta of 0.53. The firm’s 50 day simple moving average is $137.73 and its two-hundred day simple moving average is $134.21.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 13.52% and a return on equity of 21.92%. The Hartford Insurance Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.94 EPS. Analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was 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 is 17.99%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HIG shares. Mizuho started coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Wells Fargo & Company boosted their price target on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Cantor Fitzgerald boosted their price objective on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.25.

Insiders Place Their Bets

In related news, EVP Lori A. Rodden sold 40,693 shares of the 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 sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 349,282 shares of company stock worth $48,184,324 over the last three months. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group 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.