Ritholtz Wealth Management Buys 4,300 Shares of The Hartford Insurance Group, Inc. $HIG

Ritholtz Wealth Management lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,305 shares of the insurance provider’s stock after purchasing an additional 4,300 shares during the quarter. Ritholtz Wealth Management’s holdings in The Hartford Insurance Group were worth $10,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of HIG. CSM Advisors LLC lifted its stake in The Hartford Insurance Group by 20.6% in the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock worth $44,866,000 after acquiring an additional 57,468 shares during the period. Legal & General Group Plc lifted its holdings in The Hartford Insurance Group by 2.2% during the third quarter. Legal & General Group Plc now owns 2,553,541 shares of the insurance provider’s stock worth $340,617,000 after buying an additional 55,740 shares during the period. Nordea Investment Management AB boosted its position in The Hartford Insurance Group by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock valued at $606,956,000 after acquiring an additional 81,712 shares in the last quarter. Guardian Capital LP increased its holdings in shares of The Hartford Insurance Group by 7.4% in the 3rd quarter. Guardian Capital LP now owns 162,364 shares of the insurance provider’s stock valued at $21,658,000 after acquiring an additional 11,197 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of The Hartford Insurance Group by 16.7% in the 3rd quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider’s stock valued at $421,837,000 after acquiring an additional 452,274 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 0.9%

Shares of HIG stock opened at $132.51 on Thursday. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The stock’s fifty day moving average price is $133.14 and its 200 day moving average price is $135.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $36.32 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 12.98 earnings per share 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. Stockholders 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 dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages recently weighed in on HIG. Piper Sandler decreased 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, June 11th. Keefe, Bruyette & Woods reduced their target price on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Mizuho decreased their price target on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Barclays lowered their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Finally, Cantor Fitzgerald reduced their price objective on shares of 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. Nine equities 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.31.

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.