Prudential Financial Inc. Purchases 43,141 Shares of The Hartford Insurance Group, Inc. $HIG

Prudential Financial Inc. lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 24.5% in the 2nd quarter, Holdings Channel reports. The fund owned 219,366 shares of the insurance provider’s stock after buying an additional 43,141 shares during the quarter. Prudential Financial Inc.’s holdings in The Hartford Insurance Group were worth $27,831,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC lifted its holdings in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 161 shares in the last quarter. Signature Resources Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $38,000. Addison Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after buying an additional 181 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $137.55 on Wednesday. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $138.64. The stock has a fifty day moving average of $129.92 and a 200 day moving average of $128.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The firm has a market capitalization of $38.33 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 EPS. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a $0.60 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s payout ratio is 19.61%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of analyst reports. Royal Bank Of Canada initiated coverage on shares of The Hartford Insurance Group in a report on Tuesday. They set a “sector perform” rating and a $145.00 target price on the stock. Evercore ISI lifted their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Raymond James Financial restated an “outperform” rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.13.

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.