Concurrent Investment Advisors LLC Acquires 787 Shares of The Hartford Insurance Group, Inc. $HIG

Concurrent Investment Advisors LLC grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 41.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,673 shares of the insurance provider’s stock after purchasing an additional 787 shares during the period. Concurrent Investment Advisors LLC’s holdings in The Hartford Insurance Group were worth $339,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HIG. 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. Cantor Fitzgerald began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Morgan Stanley upped their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. 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 has an average rating of “Moderate Buy” and an average target price of $140.07.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction 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 SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $124.37 on Monday. The company’s fifty day moving average price is $131.43 and its 200-day moving average price is $126.50. The firm has a market capitalization of $34.97 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.20 and a beta of 0.69. 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 Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm earned $2.50 EPS. The firm’s quarterly revenue 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 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

The Hartford Insurance Group Company Profile

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.