GSA Capital Partners LLP purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 17,444 shares of the insurance provider’s stock, valued at approximately $2,312,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $4,131,000. Abacus Wealth Partners LLC acquired a new position in The Hartford Insurance Group during the 4th quarter worth approximately $1,971,000. Strs Ohio boosted its holdings in The Hartford Insurance Group by 4.7% in the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after acquiring an additional 8,890 shares in the last quarter. Arbejdsmarkedets Tillaegspension grew its stake in The Hartford Insurance Group by 4.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after acquiring an additional 8,250 shares during the period. Finally, SEB Asset Management AB acquired a new stake in The Hartford Insurance Group in the first quarter valued at approximately $69,310,000. 93.42% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated 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 sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.
The Hartford Insurance Group Stock Up 0.2%
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.
Analyst Ratings Changes
HIG has been the topic of a number of research reports. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Piper Sandler restated a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. Finally, Royal Bank Of Canada raised their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $149.67.
Get Our Latest Analysis on HIG
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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