Nomura Asset Management Co. Ltd. Raises Stake in The Hartford Insurance Group, Inc. $HIG

Nomura Asset Management Co. Ltd. raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,162 shares of the insurance provider’s stock after buying an additional 4,219 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in The Hartford Insurance Group were worth $16,641,000 at the end of the most recent reporting period.

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

Insider Activity at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction on 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 owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HIG. UBS Group upped their price target on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Morgan Stanley upped their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods raised their price target 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. Finally, Evercore ISI boosted their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.86.

The Hartford Insurance Group Stock Down 0.7%

HIG opened at $132.20 on Thursday. The business’s fifty day simple moving average is $129.56 and its 200 day simple moving average is $128.19. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.27. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $36.84 billion, a PE ratio of 10.80, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. As a group, 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 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.