Bessemer Group Inc. Has $1.05 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Bessemer Group Inc. reduced its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 40.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,786 shares of the insurance provider’s stock after selling 5,181 shares during the period. Bessemer Group Inc.’s holdings in The Hartford Insurance Group were worth $1,053,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HIG. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. Barnes Dennig Private Wealth Management LLC raised its stake in The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new stake in The Hartford Insurance Group in the 4th quarter valued at $36,000. Institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HIG. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company lifted their target price on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods upped their price target on 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. Finally, Piper Sandler reiterated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $148.75.

The Hartford Insurance Group Trading Up 1.0%

HIG stock opened at $142.18 on Friday. The business has a fifty day moving average of $133.70 and a 200-day moving average of $135.47. The company has a market cap of $38.98 billion, a P/E ratio of 9.99, a PEG ratio of 3.84 and a beta of 0.47. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month 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 Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.69 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

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.