Private Wealth Management Group LLC Grows Position in The Hartford Insurance Group, Inc. $HIG

Private Wealth Management Group LLC increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 151.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 221 shares of the insurance provider’s stock after acquiring an additional 133 shares during the quarter. Private Wealth Management Group LLC’s holdings in The Hartford Insurance Group were worth $28,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Woodline Partners LP raised its holdings in The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after purchasing an additional 755,128 shares in the last quarter. Nuveen LLC bought a new position in The Hartford Insurance Group in the first quarter worth about $87,516,000. Bahl & Gaynor Inc. raised its holdings in The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock worth $264,972,000 after purchasing an additional 684,390 shares in the last quarter. Amundi raised its holdings in The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after purchasing an additional 417,951 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in The Hartford Insurance Group by 38.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock worth $189,427,000 after purchasing an additional 414,216 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

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

Analysts Set New Price Targets

Several research firms have recently issued reports on HIG. Citigroup began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price objective on the stock. Piper Sandler upped 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 report on Tuesday, September 2nd. Wolfe Research began coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $140.07.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $124.37 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company’s 50 day moving average is $131.43 and its 200 day moving average is $126.47. 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 company has a market cap of $34.97 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.69.

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

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 18.86%.

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.