Eastern Bank Acquires 7,444 Shares of The Hartford Insurance Group, Inc. $HIG

Eastern Bank grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 168,612 shares of the insurance provider’s stock after purchasing an additional 7,444 shares during the period. Eastern Bank owned about 0.06% of The Hartford Insurance Group worth $22,491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of HIG. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group during the third quarter worth $27,000. Private Wealth Management Group LLC lifted its stake in The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth $35,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $38,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $131.74 on Wednesday. The Hartford Insurance Group, Inc. has a 1 year low of $105.98 and a 1 year high of $140.50. 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 stock’s fifty day moving average price is $135.18 and its two-hundred day moving average price is $130.55. The firm has a market cap of $36.71 billion, a PE ratio of 10.76, a PEG ratio of 1.22 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.53 EPS. On average, equities research analysts forecast 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 was paid on Monday, January 5th. Investors of record on Monday, December 1st were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Analyst Ratings Changes

Several research analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Evercore ISI boosted their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Company 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.