Concurrent Investment Advisors LLC Acquires 5,728 Shares of The Hartford Insurance Group, Inc. $HIG

Concurrent Investment Advisors LLC increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 95.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,719 shares of the insurance provider’s stock after buying an additional 5,728 shares during the period. Concurrent Investment Advisors LLC’s holdings in The Hartford Insurance Group were worth $1,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the third quarter valued at approximately $26,000. Cornerstone Planning Group LLC boosted its holdings 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 valued at $26,000 after buying an additional 184 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group in the third quarter valued at approximately $29,000. United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its position in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. Citigroup upped their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Barclays decreased their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. upped their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, UBS Group reduced their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.31.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 201,938 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 349,282 shares of company stock valued at $48,184,324 in the last three months. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Down 1.6%

HIG stock opened at $136.57 on Thursday. The stock has a market capitalization of $37.44 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. 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, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The firm has a 50-day moving average price of $137.38 and a 200-day moving average price of $134.89.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.26 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

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.