Ibex Wealth Advisors Buys Shares of 5,349 The Hartford Insurance Group, Inc. $HIG

Ibex Wealth Advisors purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,349 shares of the insurance provider’s stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. United Financial Planning Group LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its position in shares of The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group News Roundup

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Wells Fargo raised its price target on HIG to $165 from $154 and reiterated an overweight rating, signaling about 19% upside from current levels. Benzinga report on Wells Fargo price target increase
• Positive Sentiment: Mizuho also boosted its target to $163 from $154 and kept an outperform rating, adding to the positive analyst sentiment around the stock. Benzinga report on Mizuho price target increase
• Positive Sentiment: Cantor Fitzgerald increased its target to $158 from $156 and maintained an overweight rating, reinforcing expectations for further upside. Benzinga report on Cantor Fitzgerald price target increase
• Neutral Sentiment: Keefe, Bruyette & Woods issued a positive forecast for HIG, but its latest target of $143 and market-perform rating were less bullish than the other recent calls. KBW report
• Neutral Sentiment: Zacks highlighted surging implied volatility in HIG options, suggesting traders are positioning for a larger move, though this does not clearly point to direction by itself. Zacks article on implied volatility

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group 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 transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. 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.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $138.32 on Friday. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 2.54 and a beta of 0.47. The firm’s fifty day simple moving average is $132.57 and its 200-day simple moving average is $135.42. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted 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 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 during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the company earned $2.20 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Analysts Set New Price Targets

HIG has been the topic of a number of research analyst reports. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Barclays dropped their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research report on Wednesday. Mizuho upped their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, UBS Group reduced their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.50.

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.