Allstate Corp Invests $1.32 Million in The Hartford Insurance Group, Inc. $HIG

Allstate Corp purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,914 shares of the insurance provider’s stock, valued at approximately $1,322,000.

A number of other large investors have also added to or reduced their stakes in HIG. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at $27,000. Private Wealth Management Group LLC increased its position in shares of The Hartford Insurance Group by 151.1% in the second 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. Vermillion & White Wealth Management Group LLC increased its position in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 99 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in The Hartford Insurance Group in the second quarter valued at about $35,000. Finally, Signature Resources Capital Management LLC bought a new stake in The Hartford Insurance Group during the second quarter worth about $38,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HIG. Cantor Fitzgerald raised their target price on shares of The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Monday, December 29th. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $140.00 to $153.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Argus lifted 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. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.47.

The Hartford Insurance Group Trading Down 0.6%

NYSE HIG opened at $128.79 on Wednesday. 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 Hartford Insurance Group, Inc. has a twelve month low of $105.98 and a twelve month high of $140.50. The company has a market cap of $35.89 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.61. The business’s fifty day moving average is $135.23 and its 200 day moving average is $130.73.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results 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 business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 EPS. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were issued a $0.60 dividend. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Insider Buying and Selling

In other news, EVP Lori A. Rodden sold 7,841 shares of the firm’s 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 transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

About The Hartford Insurance Group

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.