Assetmark Inc. Purchases 11,158 Shares of The Hartford Insurance Group, Inc. $HIG

Assetmark Inc. grew its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 743,489 shares of the insurance provider’s stock after acquiring an additional 11,158 shares during the period. Assetmark Inc. owned about 0.27% of The Hartford Insurance Group worth $99,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its position in The Hartford Insurance Group by 2.2% during the third quarter. Public Sector Pension Investment Board now owns 100,654 shares of the insurance provider’s stock worth $13,426,000 after buying an additional 2,203 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of The Hartford Insurance Group by 11.5% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 209,524 shares of the insurance provider’s stock worth $27,948,000 after acquiring an additional 21,617 shares in the last quarter. Wedbush Securities Inc. increased its stake in The Hartford Insurance Group by 6.7% in the third quarter. Wedbush Securities Inc. now owns 9,004 shares of the insurance provider’s stock valued at $1,201,000 after acquiring an additional 562 shares during the last quarter. Leuthold Group LLC raised its position in The Hartford Insurance Group by 3.2% during the third quarter. Leuthold Group LLC now owns 36,145 shares of the insurance provider’s stock valued at $4,821,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Westover Capital Advisors LLC lifted its stake in The Hartford Insurance Group by 134.8% during the third quarter. Westover Capital Advisors LLC now owns 10,738 shares of the insurance provider’s stock worth $1,432,000 after purchasing an additional 6,164 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. This represents a 50.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 338,247 shares of company stock valued at $46,587,520. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Down 0.0%

HIG stock opened at $141.96 on Friday. The stock has a fifty day moving average of $135.69 and a 200-day moving average of $132.25. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.09 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm earned $2.94 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley raised their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Piper Sandler lifted their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, January 29th. Finally, Mizuho initiated coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.13.

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.