Caprock Group LLC Invests $5.68 Million in The Hartford Insurance Group, Inc. $HIG

Caprock Group LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,944 shares of the insurance provider’s stock, valued at approximately $5,682,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HIG. Ashton Thomas Private Wealth LLC purchased a new stake in The Hartford Insurance Group during the 1st quarter valued at $207,000. Blair William & Co. IL grew its holdings in shares of The Hartford Insurance Group by 12.2% in the second quarter. Blair William & Co. IL now owns 8,610 shares of the insurance provider’s stock worth $1,092,000 after acquiring an additional 936 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of The Hartford Insurance Group by 41.7% in the second quarter. Concurrent Investment Advisors LLC now owns 2,673 shares of the insurance provider’s stock worth $339,000 after acquiring an additional 787 shares during the period. CWM LLC increased its position in The Hartford Insurance Group by 4.8% during the second quarter. CWM LLC now owns 15,849 shares of the insurance provider’s stock valued at $2,011,000 after acquiring an additional 720 shares during the last quarter. Finally, MGO One Seven LLC lifted its holdings in The Hartford Insurance Group by 29.3% in the second quarter. MGO One Seven LLC now owns 5,986 shares of the insurance provider’s stock valued at $759,000 after acquiring an additional 1,358 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HIG. Wells Fargo & Company raised their target price on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. UBS Group upped their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Citigroup lifted their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group Stock Up 0.2%

Shares of HIG stock opened at $141.92 on Thursday. The company’s fifty day simple moving average is $135.49 and its two-hundred day simple moving average is $132.18. The Hartford Insurance Group, Inc. has a 52 week low of $107.49 and a 52 week high of $144.50. The stock has a market cap of $39.54 billion, a P/E ratio of 10.64, a PEG ratio of 1.09 and a beta of 0.61. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 338,247 shares of company stock valued at $46,587,520 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

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.