Rakuten Investment Management Inc. Takes $833,000 Position in The Hartford Insurance Group, Inc. $HIG

Rakuten Investment Management Inc. bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,242 shares of the insurance provider’s stock, valued at approximately $833,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its holdings in The Hartford Insurance Group by 5.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 80 shares during the last quarter. Mather Group LLC. grew its position in shares of The Hartford Insurance Group by 4.5% during the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock worth $257,000 after buying an additional 83 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of The Hartford Insurance Group by 3.6% during the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock worth $303,000 after buying an additional 85 shares in the last quarter. Monument Capital Management increased its stake in shares of The Hartford Insurance Group by 0.4% in the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after buying an additional 85 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in The Hartford Insurance Group by 4.4% in the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $140.00 to $153.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Royal Bank Of Canada began coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Morgan Stanley raised their price objective 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, November 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.47.

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $128.52 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $105.98 and a 1-year high of $140.50. The firm has a market capitalization of $35.81 billion, a PE ratio of 10.50, a P/E/G ratio of 1.14 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The business’s fifty day moving average price is $134.99 and its two-hundred day moving average price is $130.81.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 earnings per share. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were given a dividend of $0.60 per share. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, December 1st. The Hartford Insurance Group’s payout ratio is presently 19.61%.

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.