Ritholtz Wealth Management boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 5.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,305 shares of the insurance provider’s stock after buying an additional 4,300 shares during the quarter. Ritholtz Wealth Management’s holdings in The Hartford Insurance Group were worth $10,454,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter worth $207,000. NewEdge Advisors LLC lifted its holdings in The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of The Hartford Insurance Group by 3.9% in the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after purchasing an additional 6,285 shares during the period. HUB Investment Partners LLC increased its stake in shares of The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is currently owned by institutional investors.
The Hartford Insurance Group Trading Up 0.9%
Shares of HIG stock opened at $132.51 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.39 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50. The stock’s 50-day moving average price is $133.14 and its 200-day moving average price is $135.35.
The Hartford Insurance Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.
Insider Buying and Selling
In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company cut their price target on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Cantor Fitzgerald decreased their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods lowered their price objective on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. Finally, Piper Sandler dropped their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.31.
View Our Latest Analysis on HIG
The Hartford Insurance Group Profile
The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.
Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.
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