Franklin Resources Inc. Increases Holdings in The Hartford Insurance Group, Inc. $HIG

Franklin Resources Inc. lifted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,376,931 shares of the insurance provider’s stock after acquiring an additional 108,765 shares during the period. Franklin Resources Inc. owned 1.21% of The Hartford Insurance Group worth $450,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in The Hartford Insurance Group during the 1st quarter valued at approximately $207,000. AE Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 4.4% in the second quarter. AE Wealth Management LLC now owns 2,508 shares of the insurance provider’s stock worth $318,000 after buying an additional 105 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of The Hartford Insurance Group by 48.0% in the second quarter. Prospera Financial Services Inc now owns 5,916 shares of the insurance provider’s stock worth $751,000 after buying an additional 1,920 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of The Hartford Insurance Group during the second quarter worth $820,000. Finally, Fidelis Capital Partners LLC boosted its position in shares of The Hartford Insurance Group by 4.4% during the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock worth $262,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 100,970 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares in the company, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 343,928 shares of company stock valued at $47,393,256 over the last ninety days. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HIG. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Mizuho began coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price objective for the company. Citigroup raised their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Morgan Stanley lifted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Piper Sandler boosted their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $134.97 on Thursday. 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 quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $137.15 and its 200 day moving average is $133.86. The company has a market cap of $37.23 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.33 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates 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 $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the company posted $2.94 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) 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.