Strategic Investment Advisors MI Acquires New Position in The Hartford Insurance Group, Inc. $HIG

Strategic Investment Advisors MI bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the first quarter, according to its most recent filing with the SEC. The firm bought 6,009 shares of the insurance provider’s stock, valued at approximately $813,000.

Several other large investors also recently bought and sold shares of HIG. Amundi raised its holdings in shares of The Hartford Insurance Group by 15.4% in the first quarter. Amundi now owns 1,734,466 shares of the insurance provider’s stock worth $234,552,000 after buying an additional 231,209 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of The Hartford Insurance Group by 5.3% during the first quarter. EverSource Wealth Advisors LLC now owns 4,199 shares of the insurance provider’s stock valued at $568,000 after buying an additional 213 shares during the last quarter. Empowered Funds LLC increased its position in shares of The Hartford Insurance Group by 20.4% in the 1st quarter. Empowered Funds LLC now owns 34,161 shares of the insurance provider’s stock valued at $4,620,000 after acquiring an additional 5,780 shares during the period. Quantinno Capital Management LP increased its position in shares of The Hartford Insurance Group by 38.5% in the 1st quarter. Quantinno Capital Management LP now owns 179,685 shares of the insurance provider’s stock valued at $24,299,000 after acquiring an additional 49,932 shares during the period. Finally, Lazard Asset Management LLC raised its stake in The Hartford Insurance Group by 19.8% in the 1st quarter. Lazard Asset Management LLC now owns 660,624 shares of the insurance provider’s stock worth $89,336,000 after acquiring an additional 109,268 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $142.95 on Friday. The firm’s fifty day moving average is $134.40 and its two-hundred day moving average is $135.67. The firm has a market cap of $38.72 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 3.95 and a beta of 0.47. 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 Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. Research analysts expect that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HIG. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Barclays reduced their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank Of Canada upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Hold” and a consensus price target of $149.06.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value 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 approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

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.