Delphi Management Inc. MA Invests $1.30 Million in The Hartford Insurance Group, Inc. $HIG

Delphi Management Inc. MA acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 10,272 shares of the insurance provider’s stock, valued at approximately $1,303,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC raised its stake in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group during the 1st quarter valued at approximately $33,000. Meeder Asset Management Inc. raised its stake in The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 161 shares during the period. Spurstone Advisory Services LLC bought a new stake in The Hartford Insurance Group during the 4th quarter valued at approximately $33,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in The Hartford Insurance Group during the 1st quarter valued at approximately $37,000. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Piper Sandler lifted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Citigroup assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.00.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction dated 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 directly owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Performance

HIG stock opened at $132.52 on Friday. 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 business’s fifty day simple moving average is $127.74 and its two-hundred day simple moving average is $124.53. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The firm has a market cap of $37.26 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.29 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period in the prior year, the business earned $2.50 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

The Hartford Insurance Group Company Profile

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.