Martingale Asset Management L P Has $27.39 Million Stake in The Hartford Insurance Group, Inc. $HIG

Martingale Asset Management L P lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 198,736 shares of the insurance provider’s stock after acquiring an additional 5,486 shares during the period. Martingale Asset Management L P’s holdings in The Hartford Insurance Group were worth $27,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the third quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group during the third quarter worth $29,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the third quarter worth $29,000. Barnes Dennig Private Wealth Management LLC raised its stake in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac acquired a new position in The Hartford Insurance Group during the fourth quarter worth $36,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $129.49 on Friday. The stock’s fifty day moving average is $134.34 and its 200-day moving average is $135.67. 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 stock has a market capitalization of $35.50 billion, a PE ratio of 9.10, a PEG ratio of 2.33 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate 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 return on equity of 22.52% and a net margin of 14.10%.The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.02 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

HIG has been the subject of several recent analyst reports. UBS Group dropped their price objective 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. Piper Sandler dropped their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald dropped their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a research note on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.31.

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.