Axxcess Wealth Management LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

Axxcess Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,578 shares of the insurance provider’s stock, valued at approximately $200,000.

Several other hedge funds also recently modified their holdings of the stock. NorthRock Partners LLC boosted its position in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock valued at $395,000 after buying an additional 80 shares during the last quarter. Wayfinding Financial LLC boosted its position in shares of The Hartford Insurance Group by 3.0% during the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after buying an additional 84 shares during the last quarter. Wealthspire Advisors LLC boosted its position in shares of The Hartford Insurance Group by 3.2% during the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock valued at $356,000 after buying an additional 88 shares during the last quarter. BayBridge Capital Group LLC boosted its position in shares of The Hartford Insurance Group by 2.4% during the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock valued at $479,000 after buying an additional 89 shares during the last quarter. Finally, GSB Wealth Management LLC boosted its position in shares of The Hartford Insurance Group by 2.4% during the second quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider’s stock valued at $488,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 0.3%

Shares of NYSE HIG opened at $124.37 on Monday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The business’s fifty day moving average price is $131.43 and its 200-day moving average price is $126.50. The stock has a market capitalization of $34.97 billion, a PE ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction on Friday, September 5th. The stock was 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 SEC, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on The Hartford Insurance Group from $139.00 to $147.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective on the stock. Citigroup initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective on the stock. 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, October 7th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned 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 $140.07.

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.