Pacer Advisors Inc. Acquires 5,823 Shares of The Hartford Insurance Group, Inc. $HIG

Pacer Advisors Inc. lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,196 shares of the insurance provider’s stock after purchasing an additional 5,823 shares during the quarter. Pacer Advisors Inc.’s holdings in The Hartford Insurance Group were worth $4,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group during the third quarter valued at $26,000. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. Barnes Dennig Private Wealth Management LLC increased its holdings in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of The Hartford Insurance Group in the 4th quarter worth about $36,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG opened at $129.40 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $35.47 billion, a P/E ratio of 9.09, a P/E/G ratio of 2.33 and a beta of 0.47. The company’s 50-day simple moving average is $133.39 and its two-hundred day simple moving average is $135.36. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 13.03 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of analyst reports. Cantor Fitzgerald dropped their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. UBS Group reduced their price objective 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. Wells Fargo & Company decreased their target price on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Bank of America raised their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.31.

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.