Vise Technologies Inc. Buys Shares of 77,647 The Hartford Insurance Group, Inc. $HIG

Vise Technologies Inc. purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,647 shares of the insurance provider’s stock, valued at approximately $10,290,000.

Several other hedge funds and other institutional investors have also modified their holdings of HIG. First Pacific Financial purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at $26,000. MidFirst Bank acquired a new position in The Hartford Insurance Group during the 2nd quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Navigoe LLC purchased a new position in The Hartford Insurance Group during the 2nd quarter valued at about $27,000. Finally, Phillip James Consulting Co. acquired a new position in The Hartford Insurance Group in the 1st quarter valued at about $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on 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 transaction, the president owned 38,208 shares in the company, valued at $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 Securities & Exchange Commission, which is available through 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.

Analyst Ratings Changes

HIG has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. UBS Group dropped their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Mizuho lifted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Barclays cut their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $137.17 on Friday. The stock’s 50-day moving average is $137.43 and its two-hundred day moving average is $136.64. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The company has a market cap of $37.16 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 3.38 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for 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 Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 EPS. Analysts forecast 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. Investors of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

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.