First Trust Advisors LP Acquires 452,274 Shares of The Hartford Insurance Group, Inc. $HIG

First Trust Advisors LP raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,162,437 shares of the insurance provider’s stock after acquiring an additional 452,274 shares during the quarter. First Trust Advisors LP owned about 1.13% of The Hartford Insurance Group worth $421,837,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its stake in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter worth $27,000. Vermillion & White Wealth Management Group LLC increased its holdings in The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in The Hartford Insurance Group in the second quarter valued at about $35,000. Finally, Addison Advisors LLC lifted its stake in 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 buying an additional 181 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $139.32 on Friday. The stock has a 50 day simple moving average of $137.25 and a 200 day simple moving average of $133.78. The Hartford Insurance Group, Inc. has a 52-week low of $107.49 and a 52-week high of $144.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $38.43 billion, a PE ratio of 10.44, a P/E/G ratio of 1.36 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping the consensus estimate of $3.22 by $0.84. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $2.94 EPS. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be issued 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 is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 17.99%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. UBS Group lifted their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Piper Sandler boosted their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, Roth Mkm increased their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $148.13.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 5,681 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. This represents a 23.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 343,928 shares of company stock valued at $47,393,256. 1.50% of the stock is owned by corporate insiders.

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.