NewEdge Wealth LLC Increases Position in The Hartford Insurance Group, Inc. $HIG

NewEdge Wealth LLC grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 28.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,329 shares of the insurance provider’s stock after purchasing an additional 3,840 shares during the period. NewEdge Wealth LLC’s holdings in The Hartford Insurance Group were worth $2,222,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares during the period. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC increased its stake in The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 99 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group during the second quarter worth about $35,000. Finally, Addison Advisors LLC boosted its stake in shares of The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HIG shares. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Wells Fargo & Company upped their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Piper Sandler lifted their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. This represents a 50.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 343,928 shares of company stock worth $47,393,256 over the last three months. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $142.21 on Friday. The company has a market cap of $39.63 billion, a P/E ratio of 10.66, a PEG ratio of 1.49 and a beta of 0.61. The firm has a fifty day moving average price of $136.89 and a 200 day moving average price of $133.02. The company has a current ratio of 0.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 12 month low of $107.49 and a 12 month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.94 EPS. Sell-side analysts predict 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is 17.99%.

About The Hartford Insurance Group

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.