The Hartford Insurance Group, Inc. $HIG Shares Acquired by Prudential PLC

Prudential PLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,513 shares of the insurance provider’s stock after acquiring an additional 13,733 shares during the period. Prudential PLC owned 0.05% of The Hartford Insurance Group worth $18,461,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NorthRock Partners LLC raised its stake in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock worth $395,000 after purchasing an additional 80 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after buying an additional 85 shares during the period. Fidelis Capital Partners LLC raised its position in The Hartford Insurance Group by 4.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock worth $262,000 after buying an additional 86 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock worth $356,000 after acquiring an additional 88 shares during the period. Finally, BayBridge Capital Group LLC boosted its holdings in shares of The Hartford Insurance Group by 2.4% in the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 89 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $132.20 on Thursday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.27. The stock has a market cap of $36.84 billion, a P/E ratio of 10.80, a PEG ratio of 1.19 and a beta of 0.69. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $129.56 and a two-hundred day moving average of $128.19.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the company posted $2.53 EPS. The company’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on HIG. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wells Fargo & Company reduced their price target on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Morgan Stanley upped their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday. Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.86.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.