IFP Advisors Inc Boosts Stake in The Hartford Insurance Group, Inc. $HIG

IFP Advisors Inc grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 326.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,132 shares of the insurance provider’s stock after buying an additional 5,458 shares during the quarter. IFP Advisors Inc’s holdings in The Hartford Insurance Group were worth $983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $26,000. Cornerstone Planning Group LLC raised its position 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 valued at $26,000 after buying an additional 184 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $29,000. United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC raised its position 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 valued at $35,000 after buying an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HIG shares. UBS Group lowered 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 report on Monday, April 27th. Citigroup raised their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Barclays reduced their target price on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Mizuho increased their target price on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.31.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Price Performance

HIG stock opened at $136.15 on Monday. 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 Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The firm’s fifty day moving average is $135.68 and its 200 day moving average is $135.93. The firm has a market cap of $37.32 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.45 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The Hartford Insurance Group’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. Research analysts predict that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 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.