Federated Hermes Inc. Acquires 28,235 Shares of The Hartford Insurance Group, Inc. $HIG

Federated Hermes Inc. increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,387 shares of the insurance provider’s stock after purchasing an additional 28,235 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of The Hartford Insurance Group worth $40,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Truist Financial Corp grew its holdings in shares of The Hartford Insurance Group by 0.7% in the 3rd quarter. Truist Financial Corp now owns 125,694 shares of the insurance provider’s stock valued at $16,766,000 after acquiring an additional 902 shares in the last quarter. Belpointe Asset Management LLC boosted its position in The Hartford Insurance Group by 41.5% during the third quarter. Belpointe Asset Management LLC now owns 8,845 shares of the insurance provider’s stock valued at $1,180,000 after purchasing an additional 2,593 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in The Hartford Insurance Group by 6.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 77,966 shares of the insurance provider’s stock valued at $10,405,000 after purchasing an additional 4,583 shares during the last quarter. LBP AM SA grew its stake in The Hartford Insurance Group by 1.6% in the third quarter. LBP AM SA now owns 89,855 shares of the insurance provider’s stock valued at $11,986,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of The Hartford Insurance Group by 2.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 18,599 shares of the insurance provider’s stock worth $2,481,000 after purchasing an additional 444 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $132.35 on Friday. The stock has a market cap of $36.88 billion, a PE ratio of 10.81, a P/E/G ratio of 1.06 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a 50-day moving average of $134.83 and a 200-day moving average of $131.01. The Hartford Insurance Group, Inc. has a 52-week low of $105.98 and a 52-week high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.98. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.29 billion. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on HIG. UBS Group increased their price objective on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Cantor Fitzgerald increased their price target on shares of The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Evercore ISI raised their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Finally, Mizuho started coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Two 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’s stock. According to data from MarketBeat, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $148.47.

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.