Healthcare of Ontario Pension Plan Trust Fund Has $12.51 Million Stake in The Hartford Insurance Group, Inc. $HIG

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 740.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,522 shares of the insurance provider’s stock after purchasing an additional 81,507 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in The Hartford Insurance Group were worth $12,512,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at approximately $26,000. Phillip James Consulting Co. acquired a new stake in The Hartford Insurance Group in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. Finally, Fideuram Asset Management Ireland dac bought a new position in The Hartford Insurance Group in the 4th quarter worth approximately $36,000. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction 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 approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $143.61 on Wednesday. The firm has a market capitalization of $38.90 billion, a PE ratio of 9.28, a PEG ratio of 3.81 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $144.50. The business’s 50 day moving average is $134.08 and its 200-day moving average is $135.57.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 earnings per share. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.73 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

Analysts Set New Price Targets

HIG has been the subject of several research reports. Cantor Fitzgerald increased their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of 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. Bank of America upped their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Mizuho raised their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada boosted their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $149.06.

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.