Freedom Investment Management Inc. Has $1.05 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Freedom Investment Management Inc. lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,248 shares of the insurance provider’s stock after acquiring an additional 533 shares during the period. Freedom Investment Management Inc.’s holdings in The Hartford Insurance Group were worth $1,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Wealth Management Group LLC grew its position in The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 133 shares during the last quarter. Park Square Financial Group LLC grew its position in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Meeder Asset Management Inc. grew its position in The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in The Hartford Insurance Group during the 1st quarter worth $37,000. Finally, Signature Resources Capital Management LLC bought a new stake in The Hartford Insurance Group during the 2nd quarter worth $38,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated 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 owned by corporate insiders.

The Hartford Insurance Group Trading Up 0.1%

Shares of HIG stock opened at $125.05 on Friday. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.21 and a beta of 0.69. The stock has a 50-day moving average of $131.01 and a 200-day moving average of $126.66. 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 Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last announced 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 return on equity of 19.60% and a net margin of 11.83%.The company 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 company earned $2.50 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HIG. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 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. 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. Barclays decreased their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods increased their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued 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 target price of $140.07.

The Hartford Insurance Group 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.