Westerkirk Capital Inc. Invests $672,000 in The Hartford Insurance Group, Inc. $HIG

Westerkirk Capital Inc. acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,300 shares of the insurance provider’s stock, valued at approximately $672,000.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter worth $506,329,000. Franklin Resources Inc. lifted its position in The Hartford Insurance Group by 51.5% in the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after buying an additional 1,111,659 shares during the last quarter. Woodline Partners LP boosted its stake in The Hartford Insurance Group by 28,218.5% during the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after buying an additional 755,128 shares during the period. Nuveen LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter valued at about $87,516,000. Finally, Bahl & Gaynor Inc. raised its stake in shares of The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after acquiring an additional 684,390 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Argus lifted their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Citigroup began coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. UBS Group increased their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $135.10 on Wednesday. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $138.64. The stock has a market capitalization of $37.65 billion, a PE ratio of 11.04, a PEG ratio of 1.19 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a 50-day simple moving average of $130.47 and a 200-day simple moving average of $128.73.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company earned $2.53 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

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

The Hartford Insurance Group Company Profile

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.