OMERS ADMINISTRATION Corp Boosts Stock Position in The Hartford Insurance Group, Inc. $HIG

OMERS ADMINISTRATION Corp raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 56.4% during the first quarter, HoldingsChannel.com reports. The firm owned 16,755 shares of the insurance provider’s stock after buying an additional 6,041 shares during the period. OMERS ADMINISTRATION Corp’s holdings in The Hartford Insurance Group were worth $2,266,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HIG. Northwestern Mutual Wealth Management Co. grew its position in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. Norges Bank acquired a new stake in The Hartford Insurance Group in the fourth quarter valued at $611,724,000. Allianz Asset Management GmbH raised its holdings in The Hartford Insurance Group by 131.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock valued at $224,901,000 after acquiring an additional 925,789 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after acquiring an additional 633,592 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its stake in The Hartford Insurance Group by 208.2% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock valued at $106,708,000 after acquiring an additional 540,445 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Up 2.5%

NYSE:HIG opened at $143.61 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 stock has a 50 day moving average of $134.08 and a 200-day moving average of $135.57. The firm has a market capitalization of $38.90 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 3.81 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.41 EPS. Analysts predict that The Hartford Insurance Group, Inc. will post 12.73 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders 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 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HIG shares. UBS Group dropped 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 report on Monday, April 27th. Royal Bank Of Canada increased their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday. Wells Fargo & Company decreased their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America upped their price objective on 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. Finally, Piper Sandler restated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $149.06.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred 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 approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

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.