MQS Management LLC acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,119 shares of the insurance provider’s stock, valued at approximately $692,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group during the third quarter valued at $26,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter worth about $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC boosted its position in The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the period. Finally, Sound Income Strategies LLC grew its stake in The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 87 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.
The Hartford Insurance Group Stock Performance
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the company earned $2.20 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on HIG shares. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a research report on Thursday, June 4th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Barclays dropped their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Piper Sandler decreased their target price on shares of 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.31.
Read Our Latest Analysis on The Hartford Insurance Group
The Hartford Insurance Group Company 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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