Evergreen Capital Management LLC Raises Holdings in The Hartford Insurance Group, Inc. $HIG

Evergreen Capital Management LLC grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 136.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,168 shares of the insurance provider’s stock after purchasing an additional 5,288 shares during the period. Evergreen Capital Management LLC’s holdings in The Hartford Insurance Group were worth $1,267,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares in the last quarter. Invesco Ltd. lifted its stake in The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares in the last quarter. Nordea Investment Management AB lifted its stake in The Hartford Insurance Group by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after purchasing an additional 81,712 shares in the last quarter. Franklin Resources Inc. lifted its stake in The Hartford Insurance Group by 3.3% during the third quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock worth $450,449,000 after purchasing an additional 108,765 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in The Hartford Insurance Group by 7.5% during the second quarter. Bank of America Corp DE now owns 3,281,825 shares of the insurance provider’s stock worth $416,365,000 after purchasing an additional 228,780 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Roth Mkm upped their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Bank of America upped their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. upped their price target on 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. Morgan Stanley upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Barclays decreased their price target on The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.56.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 349,282 shares of company stock worth $48,184,324. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Stock Up 1.2%

The Hartford Insurance Group stock opened at $139.78 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $116.66 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 0.31. The stock has a market cap of $38.56 billion, a PE ratio of 10.48, a P/E/G ratio of 1.29 and a beta of 0.53. The stock’s fifty day moving average is $137.79 and its two-hundred day moving average is $134.73.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 13.39 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 17.99%.

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.