Allspring Global Investments Holdings LLC Grows Stake in The Hartford Insurance Group, Inc. $HIG

Allspring Global Investments Holdings LLC raised its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,738 shares of the insurance provider’s stock after purchasing an additional 4,844 shares during the period. Allspring Global Investments Holdings LLC’s holdings in The Hartford Insurance Group were worth $14,776,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after buying an additional 73,835,976 shares during the period. State Street Corp raised its stake in The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after acquiring an additional 55,983 shares during the last quarter. Geode Capital Management LLC lifted its position in The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after acquiring an additional 34,274 shares during the period. Invesco Ltd. grew its stake in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Norges Bank purchased a new stake in The Hartford Insurance Group during the 4th quarter valued at about $611,724,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $141.67 on Wednesday. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $38.84 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 3.82 and a beta of 0.47. The stock’s 50-day moving average price is $133.38 and its 200-day moving average price is $135.42.

The Hartford Insurance Group (NYSE:HIG) last released 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 return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company posted $2.20 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 12.74 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. 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 16.87%.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America raised their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Barclays cut their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $148.75.

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.