MGO One Seven LLC Acquires 1,358 Shares of The Hartford Insurance Group, Inc. $HIG

MGO One Seven LLC boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 29.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,986 shares of the insurance provider’s stock after acquiring an additional 1,358 shares during the period. MGO One Seven LLC’s holdings in The Hartford Insurance Group were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its holdings in shares of 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 buying an additional 198 shares in the last quarter. Sharp Financial Services LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $260,000. Oppenheimer & Co. Inc. boosted its holdings in shares of The Hartford Insurance Group by 86.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock valued at $533,000 after buying an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $233,000. Finally, Aurora Investment Counsel bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $2,434,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Performance

HIG opened at $123.86 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $34.83 billion, a PE ratio of 11.23, a P/E/G ratio of 1.24 and a beta of 0.69. The firm has a 50 day moving average of $131.51 and a two-hundred day moving average of $126.47.

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

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is 18.86%.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, October 8th. Citigroup initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price target on the stock. Raymond James Financial restated an “outperform” rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Piper Sandler increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Evercore ISI increased their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $140.07.

Insider Activity at The Hartford Insurance Group

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

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.