Franklin Resources Inc. Buys 180,678 Shares of The Hartford Insurance Group, Inc. $HIG

Franklin Resources Inc. boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,557,609 shares of the insurance provider’s stock after buying an additional 180,678 shares during the period. Franklin Resources Inc.’s holdings in The Hartford Insurance Group were worth $490,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group in the 3rd quarter worth $26,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group in the third quarter worth $29,000. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group in the third quarter worth $29,000. Barnes Dennig Private Wealth Management LLC increased its stake in The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Down 3.3%

Shares of HIG stock opened at $127.72 on Tuesday. The business has a 50-day moving average of $134.75 and a 200 day moving average of $135.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The stock has a market capitalization of $35.01 billion, a PE ratio of 8.98, a P/E/G ratio of 2.38 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 13.12 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. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Wall Street Analyst Weigh In

HIG has been the subject of a number of research reports. Keefe, Bruyette & Woods cut their price objective on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. UBS Group cut their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.19.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is 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.