The Hartford Insurance Group, Inc. $HIG is Northwestern Mutual Wealth Management Co.’s 4th Largest Position

Northwestern Mutual Wealth Management Co. increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 286,241.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 73,861,771 shares of the insurance provider’s stock after acquiring an additional 73,835,976 shares during the period. The Hartford Insurance Group accounts for 5.0% of Northwestern Mutual Wealth Management Co.’s holdings, making the stock its 4th biggest position. Northwestern Mutual Wealth Management Co. owned 0.27% of The Hartford Insurance Group worth $10,178,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter valued at $26,000. Cornerstone Planning Group LLC lifted its holdings in shares of The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $29,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the third quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in shares of The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HIG. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. UBS Group reduced their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Barclays decreased their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Bank of America boosted their price objective 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, Mizuho raised their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $149.31.

The Hartford Insurance Group Stock Down 0.2%

Shares of HIG stock opened at $134.02 on Friday. 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 business’s fifty day moving average is $135.86 and its 200-day moving average is $135.41. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50. The stock has a market cap of $36.74 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 2.41 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts expect that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

The Hartford Insurance Group Company 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.