Plato Investment Management Ltd Invests $2.19 Million in The Hartford Insurance Group, Inc. $HIG

Plato Investment Management Ltd acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,593 shares of the insurance provider’s stock, valued at approximately $2,186,000.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $4,131,000. Abacus Wealth Partners LLC bought a new stake in The Hartford Insurance Group during the 4th quarter worth approximately $1,971,000. SEB Asset Management AB bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $69,310,000. Strs Ohio increased its holdings in The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after purchasing an additional 8,890 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension raised its position in The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after buying an additional 8,250 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HIG. Wells Fargo & Company cut their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Cantor Fitzgerald upped their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Barclays cut their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. JPMorgan Chase & Co. raised their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, UBS Group reduced their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $136.73 on Tuesday. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The firm’s 50 day simple moving average is $136.88 and its 200 day simple moving average is $136.53. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $37.04 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 3.39 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 EPS. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

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.