Assenagon Asset Management S.A. Acquires 193,212 Shares of The Hartford Insurance Group, Inc. $HIG

Assenagon Asset Management S.A. boosted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 162.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 312,184 shares of the insurance provider’s stock after acquiring an additional 193,212 shares during the period. Assenagon Asset Management S.A. owned 0.11% of The Hartford Insurance Group worth $41,642,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cresset Asset Management LLC grew its holdings in The Hartford Insurance Group by 3.3% during the 1st quarter. Cresset Asset Management LLC now owns 9,357 shares of the insurance provider’s stock valued at $1,163,000 after buying an additional 296 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in shares of The Hartford Insurance Group by 64.4% during the 1st quarter. Aptus Capital Advisors LLC now owns 8,021 shares of the insurance provider’s stock valued at $992,000 after acquiring an additional 3,141 shares during the last quarter. RWA Wealth Partners LLC boosted its position in shares of The Hartford Insurance Group by 163.2% during the 1st quarter. RWA Wealth Partners LLC now owns 4,854 shares of the insurance provider’s stock valued at $601,000 after acquiring an additional 3,010 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of The Hartford Insurance Group by 20.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,014 shares of the insurance provider’s stock valued at $2,971,000 after purchasing an additional 4,043 shares in the last quarter. Finally, Legacy Financial Advisors Inc. bought a new stake in The Hartford Insurance Group in the first quarter worth $202,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. Mizuho began coverage on The Hartford Insurance Group in a research note on Tuesday. They set an “outperform” rating and a $160.00 price objective on the stock. Piper Sandler boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target for the company. Evercore ISI lifted their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and an average target price of $144.60.

The Hartford Insurance Group Trading Up 0.5%

Shares of HIG opened at $139.01 on Friday. The firm has a market capitalization of $38.74 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $139.92. The company has a 50-day moving average of $130.82 and a 200 day moving average of $129.09.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share 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 $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS 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. Stockholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 19.61%.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Profile

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.