The Hartford Insurance Group, Inc. $HIG Stock Holdings Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,830 shares of the insurance provider’s stock after purchasing an additional 3,942 shares during the period. Rakuten Investment Management Inc.’s holdings in The Hartford Insurance Group were worth $6,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $4,067,052,000. Bank of America Corp DE acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter worth about $350,777,000. Legal & General Group Plc purchased a new position in The Hartford Insurance Group in the 2nd quarter valued at about $346,877,000. Bank of New York Mellon Corp purchased a new position in The Hartford Insurance Group in the 2nd quarter valued at about $337,907,000. Finally, Deutsche Bank AG purchased a new position in The Hartford Insurance Group in the 2nd quarter valued at about $145,575,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Beth Costello sold 31,597 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $135.75, for a total transaction of $4,289,292.75. Following the transaction, the chief financial officer directly owned 82,988 shares in the company, valued at $11,265,621. The trade was a 27.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 research reports. Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Cantor Fitzgerald reduced their target price on The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley decreased their target price on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Piper Sandler lowered The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $148.00 to $146.00 in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $144.69.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $137.06 on Friday. The firm has a 50-day simple moving average of $132.81 and a 200-day simple moving average of $135.47. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $36.65 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 1.94 and a beta of 0.48. The Hartford Insurance Group, Inc. has a 52 week low of $120.42 and a 52 week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The firm had revenue of $7.22 billion for the quarter, compared to analyst estimates of $7.37 billion. During the same period in the previous year, the business posted $3.78 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be paid a $0.67 dividend. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. The Hartford Insurance Group’s dividend payout ratio is 16.22%.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.