SBI Okasan Asset Management Co.Ltd. Invests $694,000 in The Hartford Insurance Group, Inc. $HIG

SBI Okasan Asset Management Co.Ltd. bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the insurance provider’s stock, valued at approximately $694,000.

A number of other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of The Hartford Insurance Group by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 27,146 shares of the insurance provider’s stock worth $3,741,000 after acquiring an additional 1,351 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of The Hartford Insurance Group by 10.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 514,508 shares of the insurance provider’s stock worth $70,899,000 after acquiring an additional 48,611 shares during the last quarter. Castlekeep Investment Advisors LLC grew its position in shares of The Hartford Insurance Group by 0.7% during the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock worth $1,810,000 after acquiring an additional 86 shares during the last quarter. Huntington National Bank grew its position in shares of The Hartford Insurance Group by 8.1% during the fourth quarter. Huntington National Bank now owns 10,053 shares of the insurance provider’s stock worth $1,385,000 after acquiring an additional 757 shares during the last quarter. Finally, Waystone Advisors LLC purchased a new position in shares of The Hartford Insurance Group during the fourth quarter worth approximately $377,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated 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 directly owned 25,392 shares in the company, valued at $3,505,365.60. The trade was a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was 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 in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $127.29 on Friday. The firm has a market capitalization of $34.89 billion, a P/E ratio of 8.95, a PEG ratio of 2.31 and a beta of 0.50. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The company’s fifty day moving average is $135.47 and its two-hundred day moving average is $136.00. 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 issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for 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 quarter in the previous year, the firm posted $2.20 earnings per share. Analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HIG. Mizuho lifted their price objective on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Barclays lowered their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Roth Mkm lifted their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. 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. Finally, Bank of America lifted 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 report on Tuesday, April 14th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.31.

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.