Acadian Asset Management LLC Acquires 145,970 Shares of The Hartford Insurance Group, Inc. $HIG

Acadian Asset Management LLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 94.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 300,409 shares of the insurance provider’s stock after acquiring an additional 145,970 shares during the period. Acadian Asset Management LLC owned 0.11% of The Hartford Insurance Group worth $38,107,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIG. Private Wealth Management Group LLC raised its holdings in shares of The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares during the period. Meeder Asset Management Inc. grew its stake in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares during the period. Signature Resources Capital Management LLC purchased a new stake in The Hartford Insurance Group in the 2nd quarter worth about $38,000. Larson Financial Group LLC raised its stake in The Hartford Insurance Group by 274.5% in the 1st quarter. Larson Financial Group LLC now owns 352 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 258 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in The Hartford Insurance Group by 29.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 91 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $129.29 on Monday. The company’s fifty day moving average price is $129.49 and its 200-day moving average price is $127.62. The firm has a market capitalization of $36.03 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $2.53 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 target price for the company. Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Evercore ISI lifted their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. boosted their target price 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. Finally, Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.14.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by corporate insiders.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.