Ethic Inc. Buys 13,072 Shares of The Hartford Insurance Group, Inc. $HIG

Ethic Inc. lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 24.4% during the third quarter, Holdings Channel.com reports. The firm owned 66,666 shares of the insurance provider’s stock after acquiring an additional 13,072 shares during the period. Ethic Inc.’s holdings in The Hartford Insurance Group were worth $8,157,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HIG. AlphaCentric Advisors LLC raised its stake in The Hartford Insurance Group by 104.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 2,088 shares of the insurance provider’s stock worth $255,000 after buying an additional 1,066 shares during the period. Parallel Advisors LLC boosted its holdings in The Hartford Insurance Group by 3.2% in the third quarter. Parallel Advisors LLC now owns 16,808 shares of the insurance provider’s stock worth $2,057,000 after acquiring an additional 524 shares in the last quarter. Abacus Wealth Partners LLC grew its stake in The Hartford Insurance Group by 1.4% in the third quarter. Abacus Wealth Partners LLC now owns 5,846 shares of the insurance provider’s stock valued at $715,000 after acquiring an additional 82 shares during the period. Guidance Capital Inc. grew its stake in The Hartford Insurance Group by 3.9% in the third quarter. Guidance Capital Inc. now owns 10,369 shares of the insurance provider’s stock valued at $1,405,000 after acquiring an additional 389 shares during the period. Finally, May Hill Capital LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $264,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HIG has been the subject of several recent research reports. Piper Sandler downgraded The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $148.00 to $146.00 in a report on Wednesday, July 15th. Truist Financial started coverage on The Hartford Insurance Group in a report on Monday, October 12th. They issued a “hold” rating and a $137.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on The Hartford Insurance Group from $144.00 to $137.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Hold” and an average target price of $144.69.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Costello sold 31,597 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $135.75, for a total value of $4,289,292.75. Following the transaction, the chief financial officer owned 82,988 shares in the company, valued at $11,265,621. This trade represents a 27.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Up 0.1%

HIG opened at $134.13 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.42 and a fifty-two week high of $146.07. The firm has a market capitalization of $35.87 billion, a PE ratio of 8.12, a P/E/G ratio of 1.88 and a beta of 0.48. The company’s 50-day moving average is $132.74 and its 200 day moving average is $135.49.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.17 by $0.33. The business had revenue of $7.22 billion for the quarter, compared to analysts’ expectations of $7.37 billion. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.78 EPS. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 14.53%.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals.

Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.

The Hartford serves customers primarily in the United States, with select international operations.