Vestcor Inc Buys 8,022 Shares of The Hartford Insurance Group, Inc. $HIG

Vestcor Inc raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 70.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,347 shares of the insurance provider’s stock after buying an additional 8,022 shares during the period. Vestcor Inc’s holdings in The Hartford Insurance Group were worth $2,666,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the third quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC increased its position in The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Up 3.9%

Shares of NYSE:HIG opened at $132.25 on Friday. The business’s 50 day simple moving average is $134.89 and its two-hundred day simple moving average is $135.84. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $36.25 billion, a P/E ratio of 9.29, a PEG ratio of 2.37 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly 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 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 net margin of 14.10% and a return on equity of 22.52%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 EPS. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 13.12 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, July 2nd. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value 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. This represents 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. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent research reports. Cantor Fitzgerald decreased their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their price target on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price target on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Finally, UBS Group cut their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.19.

The Hartford Insurance Group Company 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.