Great Lakes Advisors LLC bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) during the 2nd quarter, Holdings Channel reports. The fund bought 63,084 shares of the insurance provider’s stock, valued at approximately $8,360,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $26,000. MidFirst Bank acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Navigoe LLC bought a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $27,000. Finally, Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group during the first quarter valued at approximately $29,000. Institutional investors own 93.42% of the company’s stock.
The Hartford Insurance Group Price Performance
NYSE HIG opened at $137.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $37.33 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 3.41 and a beta of 0.46. The business has a 50 day simple moving average of $137.25 and a 200 day simple moving average of $136.62. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07.
The Hartford Insurance Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 15.51%.
Wall Street Analyst Weigh In
HIG has been the topic of several analyst reports. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Cantor Fitzgerald raised their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Piper Sandler reiterated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $149.67.
Read Our Latest Analysis on The Hartford Insurance Group
Insider Activity at The Hartford Insurance Group
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 transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 company insiders.
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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