31,642 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,642 shares of the insurance provider’s stock, valued at approximately $4,193,000.

A number of other hedge funds have also recently bought and sold shares of HIG. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $26,000. MidFirst Bank acquired a new position in shares of The Hartford Insurance Group during the second quarter valued at $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the third quarter valued at about $26,000. Navigoe LLC bought a new position in The Hartford Insurance Group in the second quarter valued at about $27,000. Finally, Phillip James Consulting Co. acquired a new stake in The Hartford Insurance Group in the first quarter worth about $29,000. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HIG shares. 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 report on Friday, June 12th. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company dropped their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price objective 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. Finally, Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $138.51 on Friday. 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 stock has a market cap of $37.52 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 3.38 and a beta of 0.46. The stock has a 50-day moving average of $138.49 and a 200-day moving average of $136.58. 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, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm earned $3.41 EPS. The Hartford Insurance Group’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders 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 dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is 15.51%.

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.