Oak Thistle LLC Lowers Stake in The Hartford Insurance Group, Inc. $HIG
by Jessica Moore · The Cerbat GemOak Thistle LLC lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 89.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,477 shares of the insurance provider’s stock after selling 30,932 shares during the quarter. Oak Thistle LLC’s holdings in The Hartford Insurance Group were worth $464,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in The Hartford Insurance Group during the second quarter valued at about $506,329,000. Franklin Resources Inc. grew its position in shares of The Hartford Insurance Group by 51.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock worth $414,632,000 after buying an additional 1,111,659 shares during the last quarter. Woodline Partners LP raised its stake in shares of The Hartford Insurance Group by 28,218.5% during the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after acquiring an additional 684,390 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in The Hartford Insurance Group by 217.9% in the second quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock valued at $105,593,000 after acquiring an additional 570,521 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on HIG. Mizuho started coverage on The Hartford Insurance Group in a research report on Tuesday. They set an “outperform” rating and a $160.00 price target on the stock. Evercore ISI upped their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Argus increased their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. UBS Group boosted their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Two 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.60.
View Our Latest Analysis on The Hartford Insurance Group
Insiders Place Their Bets
In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group 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 completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.
The Hartford Insurance Group Price Performance
Shares of NYSE HIG opened at $139.05 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $139.92. The business’s 50 day moving average price is $131.02 and its 200 day moving average price is $129.15. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $38.75 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.30 and a beta of 0.63.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 EPS. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.
The Hartford Insurance Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.
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.
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