Quantbot Technologies LP Takes Position in The Hartford Insurance Group, Inc. $HIG

Quantbot Technologies LP 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 & Exchange Commission. The firm bought 162,776 shares of the insurance provider’s stock, valued at approximately $21,571,000. The Hartford Insurance Group comprises about 0.9% of Quantbot Technologies LP’s portfolio, making the stock its biggest holding. Quantbot Technologies LP owned 0.06% of The Hartford Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Haven Private LLC grew its holdings in shares of The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after purchasing an additional 71 shares during the period. GW&K Investment Management LLC grew its stake in The Hartford Insurance Group by 40.3% during the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares during the period. Kestra Advisory Services LLC increased its position in shares of The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock worth $2,432,000 after acquiring an additional 79 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in shares of The Hartford Insurance Group by 3.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock valued at $305,000 after acquiring an additional 82 shares during the period. Finally, Castlekeep Investment Advisors LLC raised its stake in shares of The Hartford Insurance Group by 0.7% in the 4th quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the company’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 sale, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Zacks Research downgraded The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Mizuho increased their target price on 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. Finally, Royal Bank Of Canada raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Stock Down 0.6%

Shares of The Hartford Insurance Group stock opened at $136.30 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The company has a market capitalization of $36.92 billion, a PE ratio of 8.81, a P/E/G ratio of 3.34 and a beta of 0.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average of $137.56 and a 200-day moving average of $136.64.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.41 earnings per share. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is 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.