Goldman Sachs Group Inc. Purchases 300,931 Shares of The Hartford Insurance Group, Inc. $HIG

Goldman Sachs Group Inc. increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,360,096 shares of the insurance provider’s stock after acquiring an additional 300,931 shares during the period. Goldman Sachs Group Inc.’s holdings in The Hartford Insurance Group were worth $325,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. Signal Advisors Wealth LLC increased its holdings in shares of The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after buying an additional 75 shares during the last quarter. Castlekeep Investment Advisors LLC increased its holdings in shares of The Hartford Insurance Group by 0.7% in the 4th quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock worth $1,810,000 after buying an additional 86 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of The Hartford Insurance Group by 16.4% in the 3rd quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider’s stock worth $83,000 after buying an additional 87 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of The Hartford Insurance Group by 45.3% in the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after buying an additional 87 shares during the last quarter. Finally, REAP Financial Group LLC increased its holdings in shares of The Hartford Insurance Group by 12.7% in the 3rd quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider’s stock worth $105,000 after buying an additional 89 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HIG. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Bank of America upped their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Wells Fargo & Company cut 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 research note on Friday. Mizuho cut their price objective on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Cantor Fitzgerald cut their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.19.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $132.25 on Friday. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. The stock has a market capitalization of $36.25 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 2.29 and a beta of 0.47. The company has a fifty day moving average of $134.89 and a 200-day moving average of $135.84. 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 (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 EPS. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS 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 given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

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. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.30% of the company’s stock.

The Hartford Insurance Group 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.