RiverFront Investment Group LLC Acquires 98,658 Shares of The Hartford Insurance Group, Inc. $HIG

RiverFront Investment Group LLC increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 37.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,645 shares of the insurance provider’s stock after buying an additional 98,658 shares during the period. RiverFront Investment Group LLC’s holdings in The Hartford Insurance Group were worth $45,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HIG. Private Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after buying an additional 133 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Signature Resources Capital Management LLC acquired a new position in The Hartford Insurance Group during the second quarter worth $38,000. Addison Advisors LLC grew its stake in shares of The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after buying an additional 181 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter worth about $44,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Wednesday, November 19th. UBS Group lifted their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research 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 issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.86.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $136.54 on Tuesday. The firm’s 50-day simple moving average is $129.76 and its 200 day simple moving average is $128.38. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $137.49. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 1.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.53 earnings per share. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.50% of the company’s stock.

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.