Arrowstreet Capital Limited Partnership Has $229.01 Million Position in The Hartford Insurance Group, Inc. $HIG

Arrowstreet Capital Limited Partnership increased its stake in The Hartford Insurance Group, Inc. (NYSE:HIGFree Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,693,512 shares of the insurance provider’s stock after purchasing an additional 133,142 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.62% of The Hartford Insurance Group worth $229,014,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Pacific Financial acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at $26,000. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group during the third quarter valued at $26,000. Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group during the first quarter worth $29,000. Sunbelt Securities Inc. bought a new position in shares of The Hartford Insurance Group during the third quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC raised its position in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group News Summary

Here are the key news stories impacting The Hartford Insurance Group this week:

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted 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, July 20th. Cantor Fitzgerald upped their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Finally, Barclays lowered their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $148.75.

Check Out Our Latest Analysis on HIG

Insider Buying and Selling

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated 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 directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $140.50 on Friday. The stock’s 50-day moving average is $133.83 and its 200 day moving average is $135.51. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 3.88 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.92%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $3.41 earnings per share. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.69 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

About The Hartford Insurance Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Hartford Insurance Group (NYSE:HIG)

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