Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,158 shares of the insurance provider’s stock after purchasing an additional 665 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in The Hartford Insurance Group were worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Smallwood Wealth Investment Management LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $37,000. Amalgamated Bank boosted its holdings in The Hartford Insurance Group by 0.7% during the 1st quarter. Amalgamated Bank now owns 56,682 shares of the insurance provider’s stock valued at $7,013,000 after acquiring an additional 419 shares during the period. Monument Capital Management boosted its holdings in The Hartford Insurance Group by 4.4% during the 1st quarter. Monument Capital Management now owns 23,201 shares of the insurance provider’s stock valued at $2,871,000 after acquiring an additional 972 shares during the period. Achmea Investment Management B.V. boosted its holdings in The Hartford Insurance Group by 4.9% during the 1st quarter. Achmea Investment Management B.V. now owns 244,894 shares of the insurance provider’s stock valued at $30,301,000 after acquiring an additional 11,373 shares during the period. Finally, Transcend Capital Advisors LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $213,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HIG. Keefe, Bruyette & Woods lowered their target price on The Hartford Insurance Group from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Piper Sandler lifted their price objective on The Hartford Insurance Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Raymond James Financial lifted their price objective on The Hartford Insurance Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Finally, Jefferies Financial Group decreased their price objective on The Hartford Insurance Group from $118.00 to $117.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.58.

Insider Buying and Selling

In other The Hartford Insurance Group news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president owned 622 shares of the company’s stock, valued at $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $124.71 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09. The firm has a market capitalization of $35.43 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The stock’s 50-day simple moving average is $126.78 and its 200-day simple moving average is $118.64.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the company earned $2.34 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, June 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 20.74%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.