Robeco Institutional Asset Management B.V. Has $242.72 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

by · The Cerbat Gem

Robeco Institutional Asset Management B.V. raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIGFree Report) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,761,391 shares of the insurance provider’s stock after purchasing an additional 220,875 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in The Hartford Insurance Group were worth $242,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Signal Advisors Wealth LLC boosted its holdings in The Hartford Insurance Group by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 75 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in The Hartford Insurance Group by 5.8% during the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 80 shares in the last quarter. Mather Group LLC. boosted its holdings in 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 valued at $257,000 after purchasing an additional 83 shares in the last quarter. Monument Capital Management boosted its holdings in The Hartford Insurance Group by 0.4% during the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock valued at $3,243,000 after purchasing an additional 85 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings 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. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was 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 in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 349,282 shares of company stock worth $48,184,324. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Down 2.2%

Shares of HIG opened at $137.36 on Friday. The company has a market capitalization of $37.89 billion, a P/E ratio of 10.30, a PEG ratio of 1.33 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $112.81 and a one year high of $144.50. The business’s 50 day simple moving average is $138.10 and its 200-day simple moving average is $134.35.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.94 EPS. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HIG shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Piper Sandler boosted their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.33.

Get Our Latest Report on HIG

The Hartford Insurance Group Company Profile

(Free Report)

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.

Further Reading

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