3,997 Shares in The Hartford Insurance Group, Inc. $HIG Bought by SHP Wealth Management

SHP Wealth Management bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,997 shares of the insurance provider’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth about $207,000. NewEdge Advisors LLC raised its position in The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after acquiring an additional 886 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after acquiring an additional 6,285 shares during the period. HUB Investment Partners LLC lifted its holdings in The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after acquiring an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after purchasing an additional 39,220 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on 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 sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HIG shares. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Mizuho lowered their price target on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. UBS Group dropped their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Keefe, Bruyette & Woods cut their price objective 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. Finally, Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $147.31.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $128.26 on Friday. The stock has a market capitalization of $35.16 billion, a P/E ratio of 9.01, a PEG ratio of 2.33 and a beta of 0.47. The business has a 50 day simple moving average of $133.61 and a two-hundred day simple moving average of $135.40. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. 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 Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 13.03 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

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.