Citigroup Inc. Boosts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Citigroup Inc. boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 320,385 shares of the insurance provider’s stock after purchasing an additional 37,589 shares during the quarter. Citigroup Inc. owned about 0.11% of The Hartford Insurance Group worth $42,736,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HIG. Cornerstone Planning Group LLC lifted its position in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at approximately $35,000. Finally, Addison Advisors LLC grew its holdings in shares of The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. Mizuho assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price on the stock. Citigroup lifted their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Roth Mkm upped their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Cantor Fitzgerald raised their price objective on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $148.13.

Insider Activity

In related news, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total value of $805,736.23. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,609,672. This trade represents a 23.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares of the company’s stock, valued at $27,426,337.26. The trade was a 34.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 343,928 shares of company stock valued at $47,393,256. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Up 0.0%

Shares of NYSE:HIG opened at $140.55 on Wednesday. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. The business has a 50 day simple moving average of $136.99 and a two-hundred day simple moving average of $133.23. The firm has a market capitalization of $38.77 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share 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 $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the business posted $2.94 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is currently 17.99%.

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.