OP Asset Management Ltd Buys Shares of 31,747 The Hartford Insurance Group, Inc. $HIG

OP Asset Management Ltd purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 31,747 shares of the insurance provider’s stock, valued at approximately $4,293,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Haven Private LLC lifted its holdings in shares of The Hartford Insurance Group by 1.1% in the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 71 shares during the last quarter. Signal Advisors Wealth LLC increased its position in The Hartford Insurance Group by 4.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 75 shares in the last quarter. GW&K Investment Management LLC lifted its stake in The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in The Hartford Insurance Group by 0.4% in the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after purchasing an additional 79 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC boosted its position in The Hartford Insurance Group by 0.7% in the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after buying an additional 86 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research reports. Barclays decreased their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Piper Sandler reduced their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Mizuho lowered their target price on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Wells Fargo & Company dropped their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Finally, Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.31.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was 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 Stock Performance

Shares of The Hartford Insurance Group stock opened at $133.99 on Friday. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 2.39 and a beta of 0.47. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The company’s fifty day moving average is $132.87 and its 200 day moving average is $135.35. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 earnings per share. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

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.