Prudential PLC Has $18.96 Million Stake in The Hartford Insurance Group, Inc. $HIG

Prudential PLC decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,622 shares of the insurance provider’s stock after selling 9,158 shares during the period. Prudential PLC’s holdings in The Hartford Insurance Group were worth $18,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HIG. Cornerstone Planning Group LLC raised its holdings in shares of The Hartford Insurance Group by 707.7% during the third 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. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the third quarter valued at about $26,000. United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group during the third quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group during the third quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC raised its holdings in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Up 1.2%

NYSE:HIG opened at $127.44 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50-day moving average of $134.93 and a 200-day moving average of $135.87. The company has a market cap of $34.94 billion, a PE ratio of 8.96, a PEG ratio of 2.26 and a beta of 0.47. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50.

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 the consensus estimate of $3.39 by ($0.30). The business had revenue of $7.23 billion for 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 company’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. UBS Group dropped 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 report on Monday, April 27th. Barclays dropped their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Mizuho upped their price objective on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.88.

Insider Activity

In other news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

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.