ABC Arbitrage SA Makes New Investment in The Hartford Insurance Group, Inc. $HIG

ABC Arbitrage SA purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,405 shares of the insurance provider’s stock, valued at approximately $3,656,000.

Several other hedge funds have also bought and sold shares of the stock. Armstrong Advisory Group Inc. raised its position in shares of The Hartford Insurance Group by 5.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 80 shares during the period. Mather Group LLC. raised its holdings in The Hartford Insurance Group by 4.5% in the 3rd quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 83 shares during the period. Chicago Partners Investment Group LLC boosted its position in The Hartford Insurance Group by 3.6% during the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 85 shares in the last quarter. Monument Capital Management boosted its position in The Hartford Insurance Group by 0.4% during the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after purchasing an additional 85 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in The Hartford Insurance Group by 4.4% in the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 201,938 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $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. Insiders have sold a total of 338,247 shares of company stock valued at $46,587,520 over the last three months. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HIG shares. JPMorgan Chase & Co. boosted their target price 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 boosted their price objective 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. UBS Group raised their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Mizuho initiated coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target on the stock. Finally, Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $148.13.

The Hartford Insurance Group Stock Up 1.6%

Shares of NYSE:HIG opened at $141.61 on Wednesday. The firm has a market capitalization of $39.46 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32. The firm’s 50-day moving average is $135.31 and its two-hundred day moving average is $132.11.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.94 earnings per share. Analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group 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.