Vinva Investment Management Ltd Purchases 3,769 Shares of The Hartford Insurance Group, Inc. $HIG

Vinva Investment Management Ltd raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,940 shares of the insurance provider’s stock after purchasing an additional 3,769 shares during the quarter. Vinva Investment Management Ltd’s holdings in The Hartford Insurance Group were worth $3,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Guardian Partners Inc. acquired a new position in shares of The Hartford Insurance Group during the third quarter worth about $212,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its position in The Hartford Insurance Group by 174.3% in the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 19,200 shares of the insurance provider’s stock valued at $2,561,000 after buying an additional 12,200 shares during the last quarter. Korea Investment CORP lifted its stake in The Hartford Insurance Group by 63.2% in the 3rd quarter. Korea Investment CORP now owns 513,441 shares of the insurance provider’s stock valued at $68,488,000 after acquiring an additional 198,856 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in The Hartford Insurance Group in the 3rd quarter valued at approximately $2,618,000. Finally, Angeles Wealth Management LLC boosted its position in The Hartford Insurance Group by 10.7% during the 3rd quarter. Angeles Wealth Management LLC now owns 2,027 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 196 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HIG. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Piper Sandler increased their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Royal Bank Of Canada initiated coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price for the company. Argus lifted their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Morgan Stanley boosted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group Stock Down 1.0%

NYSE:HIG opened at $137.91 on Tuesday. The Hartford Insurance Group, Inc. has a twelve month low of $107.49 and a twelve month high of $144.50. The firm has a market capitalization of $38.04 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.60. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $137.24 and its two-hundred day moving average price is $133.83.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm posted $2.94 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be paid a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 17.99%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 343,928 shares of company stock worth $47,393,256 over the last quarter. 1.60% of the stock is currently owned by insiders.

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.