The Hartford Insurance Group, Inc. $HIG Shares Bought by Ignite Planners LLC

Ignite Planners LLC raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,575 shares of the insurance provider’s stock after acquiring an additional 105 shares during the quarter. Ignite Planners LLC’s holdings in The Hartford Insurance Group were worth $316,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 198 shares in the last quarter. Sharp Financial Services LLC acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $260,000. Oppenheimer & Co. Inc. grew its position in shares of The Hartford Insurance Group by 86.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after buying an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $233,000. Finally, Aurora Investment Counsel acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $2,434,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $132.97 on Thursday. The stock has a 50 day moving average price of $131.22 and a 200 day moving average price of $126.21. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $37.39 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 earnings per share. Research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is presently 18.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI boosted their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Piper Sandler boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Wolfe Research assumed coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Morgan Stanley boosted their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.93.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.