Sagespring Wealth Partners LLC increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 28.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,238 shares of the insurance provider’s stock after purchasing an additional 719 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in The Hartford Insurance Group were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in shares of The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 198 shares during the period. Sharp Financial Services LLC acquired a new position in shares of The Hartford Insurance Group in the first quarter valued at $260,000. Oppenheimer & Co. Inc. lifted its position in The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in The Hartford Insurance Group during the first quarter worth $233,000. Finally, Aurora Investment Counsel bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $2,434,000. Institutional investors and hedge funds own 93.42% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Piper Sandler increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Finally, UBS Group raised their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $140.07.
The Hartford Insurance Group Trading Up 0.3%
Shares of The Hartford Insurance Group stock opened at $124.37 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The stock has a market capitalization of $34.97 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.69. The company has a 50-day simple moving average of $131.43 and a 200 day simple moving average of $126.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period last year, the firm posted $2.50 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Research analysts expect 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 business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 18.86%.
Insider Transactions at The Hartford Insurance Group
In other news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was 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. Corporate insiders own 1.50% of the company’s stock.
About The Hartford Insurance Group
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.
Recommended Stories
- Five stocks we like better than The Hartford Insurance Group
- Using the MarketBeat Dividend Yield Calculator
- This AI Chip Giant Could Be the Market’s Next Big Winner
- Election Stocks: How Elections Affect the Stock Market
- Broadcom Inks OpenAI Deal: Why It’s A Huge Win for AVGO Stock
- Profitably Trade Stocks at 52-Week Highs
- Institutions Are Fueling CrowdStrike’s Next Leg Higher
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report).
Receive News & Ratings for The Hartford Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.