The Hartford Insurance Group, Inc. $HIG Shares Bought by RiverFront Investment Group LLC

RiverFront Investment Group LLC boosted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 380,553 shares of the insurance provider’s stock after buying an additional 9,942 shares during the quarter. RiverFront Investment Group LLC’s holdings in The Hartford Insurance Group were worth $52,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its position in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares during the period. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter valued at $26,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group during the third quarter valued at $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its position in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after buying an additional 152 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $134.02 on Monday. The company’s 50-day moving average price is $135.86 and its 200-day moving average price is $135.48. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $36.74 billion, a P/E ratio of 9.42, a P/E/G ratio of 2.40 and a beta of 0.50. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted 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 business had revenue of $14.45 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. On average, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HIG. Mizuho raised their price target 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. Citigroup raised their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Cantor Fitzgerald decreased their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Barclays decreased 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 report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.31.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm’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 transaction, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.